Big news in the diabetes drug world today: Pfizer pulled its inhaled insulin drug, Exubera, off the market.

Forbes Associate Editor Matthew Herper weighs in on the reason for pulling Exubera:

"For one thing, the drug seemed to decrease patient's lung function--apparently the result of the way the insulin, a big, complicated protein, was delivered into the lungs. Another problem was the way Pfizer dosed the drug: It was difficult to convert a patient's normal insulin dose into a dosage of Exubera."

In the blogosphere: Scott Strumello wrote about Exubera's pull, calling it "a bombshell of sorts."

In other news, Merck says its received reports that some patients taking its diabetes drug Januvia have said they are suffering from a serious skin disease and allergic reactions. However, according to Reuters, Merck said there was no "causal" link between the drug and the reactions.

Januvia has also been approved for use in new combinations with other treatments. According to Reuters: "Merck said Januvia can now also be used in combination with both a sulfonylurea and metformin when those two types of drugs provide inadequate control. It can also now be used as an initial therapy in combination with metformin."

Also: According to the New York Times, "the Department of Veterans Affairs has decided to severely limit the use of Avandia, the once-popular drug for Type 2 diabetes, delivering another blow to the product's maker, GlaxoSmithKline."

More to come from our experts...