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Merck and Pfizer's new diabetes drug wins US FDA approval

The U.S. Food and Drug Administration approved Merck & Co. Inc. and Pfizer Inc.'s Steglatro to treat type 2 diabetes, Reuters reported Dec. 20.

Steglatro, known generically as ertugliflozin, will compete with AstraZeneca PLC's Farxiga, Johnson & Johnson's Invokana, and Eli Lilly and Co. and Boehringer Ingelheim Pharmaceuticals Inc.'s Jardiance.

The companies won approval for the drug as a single therapy and in fixed-dose combinations with Merck's diabetes drug Januvia or with metformin, an older generic drug, which will have the brand names Steglujan and Segluromet, respectively.

Pfizer and Merck aim to make the drugs available in early 2018, with Merck selling the drug in the U.S., Reuters reported, citing an email statement.