Novo Nordisk hit high on Q4

Investor's Business Daily

The Danish biotech said Q4 profit rose 23% to $1.1 bil. Revenue advanced 16% to $3.8 bil on strong sales of its diabetic drugs. Novo Nordisk (NVO) is moving along with the launch of its long-acting insulin product degludec, which comes in forms called Tresiba and Ryzodeg. Degludec won approval in the EU this month after gaining clearance in Japan and Mexico last fall. Novo sees revenue growing 8%-11% in '13. Shares fell 0.4%.

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