Say hello to Bydureon, a once-weekly injectable treatment for Type 2 diabetes finally approved by the FDA on Jan. 27. Amylin Pharmaceuticals ($AMLN) developed the drug using controlled release drug delivery technology supplied by Alkermes ($ALKS). Amylin is billing the drug as the "first and only" weekly Type 2 diabetes treatment approved to date by the FDA, versus the standard twice-daily injections. Bydureon consists of biodegradable microspheres, which release a controlled amount of the drug over 7 days. Regulators previously rejected Bydureon twice before. Release | Story