FDA approves Novo Nordisk's diabetes drug: 3 things to know

Novo Nordisk on Tuesday earned FDA approval for its diabetes drug Ozempic.

Here are three things to know.

1. Ozempic is a once-weekly injection used to improve glycemic control in adults with type 2 diabetes.

2. The drug, which will cost $676 per prescription, will directly compete with Eli Lilly's diabetes drug Trulicity, according to Reuters.

3. Novo Nordisk expects Ozempic to hit the market in the first quarter of 2018.

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