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The US Food and Drug Administration approved a new drug for Type 2 diabetes developed by Eli Lilly and Co., and Amylin Pharmaceuticals.

Exenatide, an injectable drug derived from lizard saliva will be sold with the name Byetta as a supplemental therapy for patients whose blood sugar hasn't been adequately controlled.

Intended to be used only concurrently with other diabetes drugs, Byetta was conditionally approved by the FDA for lone usage, as further testing is required.

Exenatide is a synthetic version of Gila monster saliva which is included in a new class of drugs called incretin mimetics. The new drug imitates hormones that respond to food, helping to regulate glucose levels.