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

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. Shares of the New Jersey-based drugmaker rose 6% in afternoon trade.

Insmed (NASDAQ:INSM) on Tuesday announced the FDA approval of Brinsupri, its once-daily oral medicine targeted at patients with non-cystic fibrosis bronchiectasis, a chronic lung disorder marked by cough,