San Diego-based Amylin Pharmaceuticals Inc. and its pharmaceutical partner, Eli Lilly & Co., announced April 29 that the Food and Drug Administration approved its diabetes drug exenatide for treating Type 2 diabetics.
The drug, which will be sold under the brand name Byetta, was approved as a combination therapy for treating Type 2 diabetics who are unsuccessful at controlling their blood sugar levels, the firms said.
In addition, the FDA informed the companies that Byetta could be approved as a stand-alone therapy for Type 2 diabetics, the firms said.
Any additional data that the drug makers submit to federal regulators is expected to receive a six-month review.
Byetta will be made available to pharmacies by June 1, the companies said.
Shares of Amylin fell 6.49 percent to $17 in morning trading April 29.
Marion Webb