Ranibizumab, approved in UK as a treatment for wet age-related macular degeneration (AMD) under the brand name Lucentis.
Ranibizumab was developed by Genentech and Novartis.
Genentech has the commercial rights in the US, while Novartis has exclusive rights in the rest of the world.
Royal Liverpool University Hospital Consultant Ophthalmologist Nicholas Beare said that Ranibizumab has the potential to transform treatment for people with diabetic macular oedema in the UK.
"For the last 25 years, laser therapy has been the standard treatment for DMO but it is not generally associated with visual improvement, whereas ranibizumab has been shown to produce a rapid and sustained improvement in vision," Beare said.