Official reports have confirmed that Novo Nordisk's Victoza, a drug developed for the treatment of type 2 diabetes, has been awarded approval by the US Food and Drug Administration. The company has said that it will now be launching the medicines across America within a few weeks.

Victoza, also commonly known as liraglutide, has been developed by the Danish drug manufacturer to help adults suffering from type 2 diabetes lower their blood sugar levels, in association with a proper diet and exercise routine.

"The U. S. approval of Victoza represents a major advancement in the treatment of type 2 diabetes and is an important milestone for Novo Nordisk", said Lars Rebien Sorensen, Novo's Chief Executive.

The company is expecting the new medicine to be a "blockbuster drug", which means that it will probably clock annual sales of over $1 Billion.

The US health officials, however, have called upon Novo to conduct more studies to cement the drug’s safety.