GlaxoSmithKline submits new diabetes drug for US approval

Pharma giant GlaxoSmithKline (GSK) submitted its latest treatment for type two diabetes to the US Food and Drug Administration (FDA) for regulatory approval.The firm said albiglutide BLA, an investigational once-weekly treatment for adult patients, was not yet approved as a treatment for type two diabetes or any other indication anywhere in the world. GSK intends to submit a regulatory application in the European Union in early 2013.At 1030 the company's share were down 0.65% at 1,373.5p.MM