The FDA approved Sanofi SA's Admelog Monday, which is a biosimilar of Eli Lilly's fast-acting insulin.
Here are four things to know.
1. Admelog was approved to control blood sugar levels after eating in adults and children older than three with Type 1 diabetes as well as adults with Type 2 diabetes.
2. Sanofi's drug is a biosimilar version of Eli Lilly's drug Humalog, which earned Eli Lilly $696.2 million in the latest quarter, according to Reuters.
3. The drug is a short-acting insulin. Type 1 diabetics need both a long-acting insulin and short acting insulin.
4. Admelog was approved through the FDA's abbreviated approval pathway.