Eli Lilly (LLY -0.64%) and research partner Boehringer Ingelheim announced today that they have submitted a New Drug Application to the U.S. Food and Drug Administration to treat Type 2 diabetes.

The sodium glucose co-transporter-2 inhibitor empagliflozin is part of a larger class of drugs being tested for their ability to reduce blood glucose levels in Type 2 diabetic adults by blocking the kidneys from reabsorbing high-glucose urine.

"We are excited to have submitted an application for a potential new treatment option that may help patients better manage their Type 2 diabetes mellitus," said Dr. Christophe Arbet-Engels, Boehringer Ingelheim's VP of metabolic-clinical development and affairs. "Type 2 diabetes mellitus is a critical health issue facing the world today, and through the Boehringer Ingelheim and Lilly Diabetes Alliance, we are committed to developing new treatments to address patients with this disease."

The class of drugs is currently part of 12 multinational clinical trials and is in phase 3 clinical trials with the FDA. Looking ahead, Eli Lilly and Boehringer Ingelheim expect to release results of these studies throughout 2013 and 2014.

According to Eli Lilly, Type 2 diabetes accounts for 90% of all diabetes cases worldwide,and resulted in approximately $245 billion of medical costs and lost productivity in 2012.