A controversial drug to treat low sexual desire in women won approval from the US Food and Drug Administration on Tuesday, but with a warning about potentially dangerous side effects.

The FDA has twice rejected the drug, flibanserin, made by privately held Sprout Pharmaceuticals. Its latest decision comes after an advisory panel concluded in June the drug should be approved with strict measures in place to ensure patients are fully aware of the risks.

The drug will be sold under the trade name Addyi. It has been nicknamed "female Viagra" in media reports, even though it does not work like Pfizer Inc's blockbuster Viagra pill for men that in 1998 became the first approved drug for erectile dysfunction. – Reuters