JERUSALEM, Israel — Teva Pharmaceutical Industries Ltd. has launched metformin hydrochloride extended-release tablets, a medication for type 2 diabetes, in the United States.

Teva said Monday that its metformin product, available in 500-mg and 1,000-mg dosages, is a generic version of Glumetza tablets from Valeant Pharmaceuticals International.

Metformin hydrochlorideER tablets are indicated for use with diet and exercise to help control high blood sugar in adults with type 2 diabetes. The medication isn’t for the treatment of type 1 diabetes or diabetic ketoacidosis.

Glumetza totaled annual sales of approximately $1.03 billion in the United States in the 12 months through March, according to IMS Health data reported by Teva.