Saxendra, also known as liraglutide, was approved by the Food and Drug Administration (FDA) in December 2014 as a weight loss and diabetes management drug, but the agency also required further testing for it. The new round of studies, in which 3,700 Type 2 diabetes patients from around the world participated, delivered positive results for weight loss and blood sugar control, confirming the previous clinical study's findings.

"The overall effect of the drug was very good and very comparable or better than the drugs that are now on the market," said Dr. Xavier Pi-Sunyer of Columbia University Medical Center, the lead researcher, via CBS News.

Dr. Holly Phillips, CBS' medical contributor, called Saxendra the new generation of drug. "It's actually been around for a couple of years to treat diabetes but was just approved by the FDA for weight loss in December. So, this study really aimed to make sure that it was effective for weight loss," she told CBS.

In the latest research, the participants were asked to observe a reduced-calorie diet and exercise regimen after being counseled regarding their diet and lifestyle. They were also injected with Saxendra or placebo every day during the course of the 56-week research.

Those who were on Saxendra lost weight at an average of 18-and-a-half pounds, while those on the placebo lost an average of 6 pounds.

The participants also reported other benefits to using Saxendra, which included lower blood sugar, lower cholesterol and a generally better control of diabetes. However, common side effects like nausea and diarrhea were also experienced by some of the patients, according to Fox News.

Liraglutide is supposed to mimic the hormone that makes the body feel fuller, according to Washington Post.  "The drug tends to decrease gastric emptying, the emptying of the stomach. And it gives signals to the brain to lower hunger and increase satiety," said Pi-Sunyer in its report.

The complete study, which was funded by drug company Novo Norsdisk, was published in the New England Journal of Medicine.

Since 2012, FDA has already approved four weight-loss drugs, including Saxendra.