The Food and Drug Administration (FDA) approved on Thursday a first-of-its-kind oral option that can lower "bad" LDL cholesterol with a daily pill instead of a shot.

The speedy clearance of Lipfendra is an important milestone for Merck and the result of a controversial voucher program put in place by former commissioner Marty Makary.

Merck said on Thursday the U.S. FDA has approved its cholesterol pill, the first of its kind to receive the health regulator’s nod, bolstering the drugmaker’s efforts to…