Ever heard the saying, once burned, twice shy? That may be the operative phrase in effect at the Food and Drug Administration concerning one of the latest proposed drugs for fighting Type 2 diabetes. California attorneys familiar with the catastrophic injuries and wrongful deaths associated with the drug Avandia are taking note this latest development.

The FDA decided in recent days to hold off on allowing the sale of the drug dapagliflozin to treat the most common form of diabetes. The drug's makers, Bristol-Myers Squibb Co. and AstraZeneca Plc, say regulators want more information about results from clinical studies to make sure that is really safe.

The move appears to reflect a commitment to increased analysis in the wake of findings several years ago that the diabetes drug Avandia was linked to heart attacks. The associated dangers of that drug led to its being pulled from markets in Europe and being allowed only on a restricted basis in the U.S.

Apparently of greatest concern is that dapagliflozin may increase the risk of breast or bladder cancer in those who take it. Regulators say there's also worry the drug could damage the liver. The makers of the drug say that the FDA has asked for more clinical data and may order even more clinical testing to see if the drug's benefits outweigh those risks before giving the drug any eventual thumbs up.

Dapagliflozin is the first of a new class of drugs called SGLT2-inhibitors. They work by prompting the body's urinary system to get rid of excess sugar in the blood. Pharmaceutical industry analysts say the drugs may not enjoy blockbuster status, but they estimate sales in the hundreds of millions for the makers if they ever make it to market.

There is some speculation that the limited profit potential of the drug might prevent it from getting to market if more clinical studies are required.

Source: Bloomberg, "Bristol, AstraZeneca Diabetes Drug Fails to Win FDA Backing," Allison Connolly, Molly Peterson, Jan. 23, 2012