Novo Nordisk said on Monday it would halt its collaboration with U.S. telehealth company Hims & Hers Health over the distribution of the Danish company's blockbuster Wegovy weight loss drugs. The two companies had announced a collaboration in April for Hims & Hers to sell Wegovy through a bundled offering on the telehealth company's platform.

Ahead of the launch, the firm has taken steps to amplify its production capacities to ensure adequate supply, and believes that its position as a market leader for insulin products in the country could give it an edge.