J&J says Europe clears new diabetes treatment

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NEW YORK (AP) — Johnson & Johnson said Friday that European Union regulators approved a pill that combines its diabetes drug Invokana with metformin, an older treatment for the disease.

Janssen-Cilag International will market the drug under the name Vokanamet. It is intended to treat type 2 diabetes, in which the body does not use insulin efficiently.

The U.S. Food and Drug Administration approved Invokana in March 2013. European Union authorities followed suit in November.

Shares of Johnson & Johnson lost 19 cents to $99.77 in midday trading.

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