The cardiovascular benefit with the SGLT2 inhibitors looks like a class effect. The latest to succeed is Johnson & Johnson's (NYSE:JNJ) Invokana, which met its primary endpoint in an analysis of the Canvas and Canvas-R cardiovascular outcomes trials presented today at the American Diabetes Association meeting.

The 14% cardiovascular benefit seen with Invokana mirrors that observed with Lilly (NYSE:LLY) and Boehringer's Jardiance in the Empa-Reg Outcome trial. But an increased risk of amputation could see Invokana lose market share to the other SGLT2s, particularly Jardiance, which already has a cardiovascular outcomes benefit on its label.

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