Would you like to pay less for your Glucotrol prescription? Then you're in luck.

Caraco Pharmaceutical Laboratories Ltd. received approval yesterday from the U.S. Food and Drug Administration to market a

generic version of Glucotrol, the popular diabetes drug created by pharmaceutical powerhouse Pfizer.

Caraco plans to release the new drug "immediately." News of the impending release raised Caraco's stock shares, while Pfizer's dropped. The 'new' and cheaper Glucotrol is designed to treat Type 2 diabetes. Let's hope this is just the beginning of less expensive treatment options.