FDA accepts application for Astra diabetes drug

LONDON

AstraZeneca PLC and Bristol-Myers Squibb Co. say the U.S. Food and Drug Administration has accepted for review a new drug application for diabetes drug dapagliflozin.

The companies added on Tuesday that a marketing authorization application for dapagliflozin has also been validated by the European Medicines Agency.

Dapagliflozin is an oral drug intended to be taken once a day. It is designed to help type 2 diabetes patients excrete glucose and related calories in their urine. That would help prevent glucose from building up in the body.