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Novartis

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plans to conduct a clinical trial that will compare the investigational type 2 diabetes medication Galvus with commonly prescribed antidiabetic drugs such as Avandia and Actos.

The study, called Galiant, will involve more than 7,500 people in the U.S. and will take place at multiple locations over three months, the company said Wednesday. Novartis said clinical trials to date have demonstrated that Galvus can lead to significant and sustained reductions in blood sugar levels.

"With the prevalence of type 2 diabetes escalating in countries around the globe, Novartis is fully committed to and engaged with the world's leading diabetes physicians and researchers who are dedicated to improving treatment options for people with type 2 diabetes," the company said in a press release.

Novartis has filed documents seeking approval for Galvus with both the Food and Drug Administration and regulators in the European Union. The company expects the FDA to act by the end of the year.

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Avandia is made by

GlaxoSmithKline

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, while Actos is sold by

Eli Lilly

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and Japan's Takeda Pharmaceuticals. Both belong to a class of drugs called thiazolidinediones.