Eli Lilly's (NYSE: LLY) biosimilar drug known as Rezvoglar was given the green light by the U.S. Food and Drug Administration (FDA) to be marketed as an interchangeable to Sanofi's (NASDAQ: SNY) Lantus long-acting insulin. This follows the FDA's approval of Rezvoglar as a biosimilar last December.

What prompted the FDA to make Rezvoglar the second interchangeable biosimilar to Sanofi's Lantus behind Viatris' (NASDAQ: VTRS) Semglee? And how much of a boost could this provide to Eli Lilly's sales? Let's dive in to answer these questions.

Diabetes is a chronic medical condition that happens when the pancreas isn't able to produce insulin. This is a hormone that lets glucose or sugar from the food that someone eats move from the bloodstream into the cells to make energy, according to the International Diabetes Foundation.

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Source Fool.com