Inclusion Criteria:

• Diabetes mellitus, type 2
• Treatment regimens: diet and exercise only or are taking metformin as monotherapy and are willing to discontinue this medication
• Have completed at least 8 weeks of wash-out prior to randomization (if on metformin therapy at screening)
• Have a qualifying HbA1c value, as determined by the central laboratory: at screening (for diet and exercise only = ≥7.0% to ≤9.5%; for metformin monotherapy = >6.0% to ≤ 8.5%) and at time of randomization for all patients = ≥7.0% to ≤9.5%
• Females of childbearing potential must test negative for pregnancy and agree to use a reliable birth control method
• Have a body mass index (BMI) between 23 and 40 kg/m2, inclusive, for patients who are native to, and reside in, South and/or East Asia; all other patients must have a BMI between 25 and 40 kg/m2, inclusive.
• Stable weight for 3 months prior to screening

Exclusion Criteria:

• Diabetes mellitus, type 1
• Taking any glucose-lowering oral agents other than metformin within 3 months prior to screening
• Use of GLP-1 analog (for example, exenatide) within 6 months prior to screening or being treated within insulin (with the exception of short-term management of acute conditions that occurred more than 3 months immediately prior to screening)
• Use of medications (prescription or over-the counter) to promote weight loss
• Chronic (>2 weeks) use of systemic glucocorticoid therapy
• Gastric emptying abnormality, history of bariatric surgery or chronic use of drugs that affect gastrointestinal motility
• Use of CNS stimulant (for example, Ritalin-SR)
• Cardiovascular event within 6 months prior to screening
• Poorly controlled hypertension (determined by a mean seated systolic BP ≥160 mm Hg or mean seated diastolic BP ≥95 mm Hg at screening or randomization)
• ECG reading considered outside the normal limits by the investigator and relevant for interpretation or indicating cardiac disease
• Liver disease, hepatitis, chronic hepatitis, or alanine transaminase levels >3.0 times upper limit of normal
• Clinical signs or symptoms of pancreatitis or history of chronic or acute pancreatitis at time of screening
• Amylase ≥3 times the upper limit of normal and/or lipase ≥2 times upper limit of normal which are determined by central labs at the time of screening
• Serum creatinine ≥1.5 mg/dL for men or ≥1.4 mg/dL for women or a creatinine clearance <60 mL/minute which are determined by central labs at the time of screening
• Uncontrolled diabetes (defined as 2 or more episode of hyperosmolar state requiring hospitalization in the 6 months prior to screening)
• Significant active, uncontrolled endocrine or autoimmune abnormality
• History of a transplanted organ (corneal transplants are allowed)
• Active or untreated malignancy (other than basal or squamous cell skin cancer, in situ carcinomas of the cervix, or in situ prostate cancer) for less than 5 years
• Have any other condition, in the opinion of the investigator, that may preclude the patient from following or completing the protocol
• Investigator site personnel directly affiliated with this study and/or their immediate families (spouse, parent, child, or sibling, whether biological or legally adopted)
• Sponsor employees
• Received treatment within the last 30 days with a drug that has not received regulatory approval for any indication at the time of study entry
• Participated in an interventional medical, surgical, or pharmaceutical study within 30 days prior to entry into the study
• Have previously completed or withdrawn from this study after providing informed consent