Drug makers Eli Lilly and Co. and Amylin Pharmaceuticals Inc. said Tuesday that European regulators approved their Type 2 diabetes treatment Byetta for sale.

The companies plan to launch the drug in Europe in 2007. Byetta was given a positive recommendation by a panel advising European regulators in September. The drug, which is derived from the saliva of the Gila monster, was launched in the U.S. in June 2005.

Lilly and Amylin ran into difficulties in April when the companies asked doctors to limit the number of patients started on the drug because cartridges had fallen into short supply. In August, the companies lifted the restriction when supplies caught up with demand again.