Novo Nordisk rises as 4th-qtr beats expectations

Shares of Danish diabetes care giant Novo Nordisk (NOV: N) were up 4.6% at 458.25 Danish kroner mid-morning, after the company announce financial results for the fourth quarter and full-year 2020.

Net profit for the quarter rose 6.9% to 9.32 billion Danish kroner ($1.51 billion) from 8.72 billion kroner a year earlier, above the 9.08 billion kroner forecast by analysts in a FactSet poll. Sales slipped 0.9% to 32.14 billion kroner, but better than analysts' expectations of 31.85 billion kroner.

For full-year 2020,Novo Nordisk’s sales increased 4% (7% at constant currency) to 126.9 billion kroner. Net profit for the year was up 8% at 42.14 billion kroner, with diluted earnings per share (EPS) rising 10% to 18.02 kroner.