The U.S. Food and Drug Administration has approved Insmed's oral drug for a type of lung disease, the company said on Tuesday, making it the first treatment for the chronic condition.

The U.S. Food and Drug Administration has approved Insmed's daily bronchiectasis pill, brensocatib, which will be sold under the brand name Brinsupri.

Insmed's Brinsupri is the first DPP1 inhibitor approved by the FDA and the first treatment for bronchiectasis to reach the market.