The U.S Food and Drug Administration granted federal approval yesterday to the first inhalable form of insulin, which is the only new way developed to distribute the hormone in humans since it was discovered in the 1920's. A European medical oversight commission approved the application on Thursday.

Pfizer bought the intellectual property rights for this method at a cost of $1.3 billion and will market its applications under the brand "Exubera". Financial projections indicate inhalable insulin will boost Pfizer's revenues by $1 billion a year.

When Exubera is made available to patients in the middle of 2006, diabetics will still need to use needles for controlled dosages.

Via (MSNBC)