J&J Wins U.S. Approval for First-in-Class Diabetes Drug
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Johnson & Johnson, the world’s largest seller of health-care products, won approval for the first in a new family of diabetes drugs, giving them the edge against rivals developing similar medicines.
The U.S. Food and Drug Administration cleared the drug, known as canagliflozin, to treat adults with Type 2 diabetes, the agency said yesterday in a statement. It may generate $800 million in peak sales, Tony Butler, an analyst at Barclays Plc in New York, said in a telephone interview.