received approval from the
Food and Drug Administration
, a drug designed to treat type 2 diabetes.
The drug maker said Glucophage XR, which is taken once a day, has been approved for use as an initial therapy and in conjunction with insulin or sulfonylureas. The company's older diabetes drug
is typically taken twice a day. Glucophage lost its U.S. marketing exclusivity last month.
said an appeals court cleared the way for the company to market a generic form of Bristol-Myers Squibb's cancer drug