Inclusion Criteria:  Clinical diagnosis of impaired glucose tolerance (2h glucose of ≥140 to 200 mg/dl post-OGTT, HbA1c ≥5.7% to <6.5%), OR Clinical diagnosis of new onset type 2 diabetes (<6 months duration, 2h glucose >200mg/dl) PDFF of ≥10% Serum ALT >45 U/L Aged 10 to <21 years at the day of randomization BMI ≥ 85% but ≤ 40 kg/m2 Good general health (normal kidney function, amylase, and lipase levels)  Exclusion Criteria:  Known or suspected hypersensitivity to trial product(s) or related products. Receipt of any investigational medicinal product within 30 days before screening. Female who is pregnant, breast-feeding or intends to become pregnant or is of childbearing potential and not using highly effective contraceptive methods.  Clinical diagnosis of:  Type 1 diabetes Maturity onset diabetes of the young (MODY) Pancreatitis (acute or chronic) Endocrinopathies (e.g., Cushing syndrome)  Having a known:  personal history of heart disease (including history of clinically significant arrhythmias or conduction delays on ECG, or new clinically significant arrhythmias or conduction delays on ECG identified at visit 1) family or personal history of MEN type 2 or medullary thyroid carcinoma (family is defined as a first-degree relative) history of malignant neoplasm within 5 years prior to the day of screening. Basal and squamous cell skin cancer and any carcinoma in-situ is allowed.  Laboratory markers:  Baseline creatinine >1.0 mg Hypertriglyceridemia (>400 mg/dl) Calcitonin equal or above 50 ng/L ALT ≥3.5 times the upper normal limit (UNL) Creatinine > upper normal limit for age in children C-peptide <1.5 ng/mL Calcitonin ≥50 ng/L BMI ≤ 25.0 Taking steroids, antipsychotics or progesterone preparations Uncontrolled hypertension treated or untreated >99th percentile for age and gender Treatment with any medication for the indication of diabetes other than metformin. Positive insulinoma associated-protein 2 (IA-2) antibodies or anti-glutamic acid decarboxylase (anti-GAD) antibodies. History of major surgical procedures involving the stomach potentially affecting absorption of trial product (e.g. subtotal and total gastrectomy, sleeve gastrectomy or gastric bypass surgery).