NVO Novo Nordisk

By Juhana Rossi

Novo Nordisk A/S (NOK) Friday said robust sales growth of its diabetes drugs helped it post a better-than-expected net profit in the fourth-quarter despite some setbacks in the U.S.

The Danish pharmaceutical company reported a net profit of 6.53 billion Danish kroner ($991 million), or DKK2.51 a share for the three months to end-December, beating a median analyst forecast of DKK6.37 billion, or DKK2.46 a share.

Quarterly revenue rose by 13% to DKK24.59 billion from DKK21.70 billion in the year-earlier period, driven by growing sales of three modern insulins and the diabetes drug Victoza. Growth was curbed by reimbursement losses in the U.S.

The company's gross margin was 83.7% in the fourth-quarter compared to 84.3% in the same period last year. The drop in the margin was due in part to asset impairments and the continued roll-out of new and more expensive devices.

Write to Juhana Rossi at juhana.rossi@wsj.com; Twitter: @WSJNordics

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