FDA approves diabetes drug with new approach FDA approves diabetes drug with new approach the associated press Jan. 09, 2014 Comments WASHINGTON (AP) — The Food and Drug Administration has approved a new diabetes drug from Bristol-Myers Squibb and AstraZeneca that uses a novel approach to reduce blood sugar. Farxiga is a once-a-day tablet designed to help diabetes patients eliminate excess sugar via their urine. That differs from older drugs that decrease the amount of sugar absorbed from food. The drug is the second product from the class of so-called SGLT2 drugs to win U.S. approval. In March the FDA approved Johnson & Johnson’s Invokana. The agency cleared Farxiga tablets for patients with type 2 diabetes, which affects about 24 million people in the U.S. The approval marks a comeback for the drug, which was previously rejected last year after studies raised concerns about links to bladder cancer and liver toxicity.