AstraZeneca and Bristol-Myers Squibb have submitted a new drug application in the US for the treatment of type-2 diabetes.

Onglyza or Saxagliptin is under joint development by AstraZeneca and Bristol-Myers Squibb. The therapy is being studied in clinical trials as a once-daily therapy to determine its effectiveness and safety.

The two pharmaceutical giants have also asked the European Medicines Agency to validate a marketing authorisation application for the drug.

AstraZeneca and Bristol-Myers Squibb started working together in January 2007 to enable both companies to research, develop and commercialise investigational drugs for type-2 diabetes.

Both companies have a major presence in England's northwest.

AstraZeneca has a research and development facility in Cheshire, one of the company's biggest.

Bristol-Myers Squibb, which reported pre-tax profits of £21.3 million and a turnover of £120.5 million in 2007-08, has an 11.2 acre research and development site on the Wirral Peninsula, which investigates new medicinal compounds.