Eli Lilly and Co said its diabetes drug was more effective than Sanofi SA's approved drug, Lantus, in reducing blood sugar levels in late-stage trials.
The drug, basal insulin peglispro, showed improved blood sugar levels, compared with Lantus in patients with type 1 diabetes as well as type 2.
Lilly said it was on track to file a submission with the U.S. and European regulators by the end of the first quarter 2015.
Lilly's drug is being studied as a once-daily treatment for both type 1 and type 2 diabetes.
In type 1 diabetes, which is usually diagnosed in children and young adults, the body does not produce insulin.
The most common form of the disease, type 2 diabetes, which is linked with obesity, occurs when body is unable to use insulin properly leading to high blood sugar levels.
(Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)