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Novartis Gets FDA OK For New Diabetes Drug

Novartis Pharmaceuticals

(NVS) - Get Novartis AG Report

said Friday it had received

Food and Drug Administration

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approval for the type 2 diabetes drug, Starlix. The drug is an amino-acid derivative and is used to help control the level of glucose in the blood.

The new drug is intended to help control the rise of glucose in the blood, particularly after meal, when blood-sugar levels usually rise. High blood-sugar levels can cause serious damage to vital organs.

Shares of Novartis gained 38 cents, or 0.9%, to $42.50 in regular session

New York Stock Exchange

trading Friday.