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Original Article

Outcomes of Oral Antidiabetic Drugs in Metabolic Dysfunction-Associated Steatotic Liver Disease: A Nationwide Target Trial Emulation Study

Heejoon Jang1, Yeonjin Kim2, Yoo Kyoung Lim1, Dong Hyeon Lee1, Sae Kyung Joo1, Bokyung Koo1, Woojoo Lee2, Stefano Romeo3, Won Kim1, Innovative Target Exploration of NAFLD (ITEN) consortium
Published online: January 6, 2026
1Department of Internal Medicine, Seoul National University College of Medicine, Seoul Metropolitan Government Boramae Medical Center, Seoul, Republic of Korea
2Department of Public Health Sciences, Graduate School of Public Health, Seoul National University, Seoul, Republic of Korea
3Center for Reproduction, Metabolism and Molecular medicine (CeRM), Department of Medicine (H7), Karolinska Institute, Huddinge, Stockholm, Sweden
Corresponding author:  Woojoo Lee, Tel: +82-2-880-2899, 
Email: lwj221@gmail.com
Stefano Romeo,
Email: stefano.romeo@ki.se
Won Kim, Tel: +82-2-870-2233, 
Email: drwon1@snu.ac.kr

Heejoon Jang and Yeonjin Kim contributed equally to this study as co-first authors.
Received: 5 September 2025   • Revised: 14 December 2025   • Accepted: 30 December 2025
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Background/Aims
Patients with concurrent type 2 diabetes mellitus (T2DM) and metabolic dysfunction-associated steatotic liver disease (MASLD) face elevated cardiovascular risks. However, optimal oral antidiabetic drug (OAD) selection for this population remains unclear.
Methods
Using the Korean National Health Information Database, we conducted a target trial emulation comparing cardiovascular outcomes among patients with T2DM and MASLD (defined by fatty liver index ≥30) who initiated sodium-glucose cotransporter 2 (SGLT2) inhibitors, thiazolidinediones, dipeptidyl peptidase-4 (DPP-4) inhibitors, or sulfonylureas with metformin. The primary outcome was major adverse cardiovascular events (MACE), including cardiovascular mortality, nonfatal myocardial infarction, and nonfatal stroke.
Results
Among 71,071 patients (331,726 person-years), SGLT2 inhibitor users experienced a significantly lower MACE risk compared to sulfonylurea users (adjusted subdistribution hazard ratio [aSHR], 0.44; 95% CI, 0.31–0.62). SGLT2 inhibitors also demonstrated a lower MACE risk compared to thiazolidinediones (aSHR, 0.61; 95% CI, 0.39–0.96) and DPP-4 inhibitors (aSHR, 0.59; 95% CI, 0.42–0.96). Cardiovascular mortality risk was notably reduced with SGLT2 inhibitors compared to sulfonylureas (aSHR, 0.13; 95% CI, 0.03-0.50), thiazolidinediones (aSHR, 0.19; 95% CI, 0.04-0.86), and DPP-4 inhibitors (aSHR, 0.22; 95% CI, 0.06-0.84). Mediation analysis revealed that MASLD regression accounted for 8.7% of the total cardiovascular benefit when comparing SGLT2 inhibitors to sulfonylureas.
Conclusions
In patients with concurrent T2DM and MASLD, SGLT2 inhibitors demonstrated better cardiovascular outcomes compared to other OADs. These findings suggest that SGLT2 inhibitors may be the preferred OAD choice for cardiovascular risk reduction in this high-risk population.

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Outcomes of Oral Antidiabetic Drugs in Metabolic Dysfunction-Associated Steatotic Liver Disease: A Nationwide Target Trial Emulation Study
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