Hims & Hers Health’s stock booked record losses Monday after Novo Nordisk, maker of the weight-loss drug Wegovy, said it was ending a collaboration with the telehealth company less than two months after it started.

Key Takeaways Hims & Hers shares plunged 30% in intraday trading Monday after Novo Nordisk said it is pulling Wegovy from the platform, citing "illegal" and "deceptive" practices.The Danish drugmaker said Hims & Hers has continued to sell illicit compounded versions of its drug that it says may not be as safe.

The fortune of the San Francisco-based telehealth company’s cofounder and chief executive, Andrew Dudum, crumbled by more than $400 million on Monday.