BAGSVAERD, Denmark (AP) _ Novo Nordisk A/S (NVO) on Friday reported third-quarter net income of $1.62 billion.

The Bagsvaerd, Denmark-based company said it had net income of 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The drugmaker posted revenue of $4.86 billion in the period.

Novo Nordisk shares have risen 15% since the beginning of the year. The stock has climbed 22% in the last 12 months.

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