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Why Novo Nordisk Stock Is Sinking Today

TheMotleyFool

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Shares of Novo Nordisk (NYSE: NVO) are tumbling on Monday, down 5.6% as of 2:11 p.m. ET. The drop comes as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both jumped 0.7%.

The Danish pharmaceutical giant's stock fell after it announced it was severing ties with Hims Hers Health, as well as releasing experimental data for an obesity drug that failed to impress investors.

Novo Nordisk announced this morning that it is ending its partnership with Hims Hers, which allowed the telehealth provider to sell Novo's blockbuster weight-loss drug, Wegovy.

Source Fool.com

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