What Viagra does for men, a new pill is designed to do for women... and now, it's won FDA approval.

FOX News Radio's Rachel Sutherland reports from Washington:

The pink pill... Addyi is supposed to boost sex drive in women.

Dr. Lisa Dabney treats women in New York City...

(Dr. Dabney) "I certainly have many patients coming in asking me all the time is there something to help me with my reduced libido."

While Viagra works by increasing blood flow... Addyi works on neurotransmitters in a woman's brain.

Doctors caution there are side effects and the pill even comes a black box warning about mixing it with alcohol because it could cause serious drops in blood pressure and fainting.

In Washington, Rachel Sutherland, FOX News Radio.