Crystalline 3-{[5-(azetidin-1-ylcarbonyl)pyrazin-2-yl]oxy}-5-{[(1S)-2-hydroxy-1- methylethyl]oxy}-N-(5-methylpyrazin-2-yl)benzamide monohydrate is an activator of glucokinase (GLK or GK) and is useful as a pharmaceutical compound in the treatment of 5 diabetes and/or obesity. Processes for the manufacture of this crystalline form, pharmaceutical compositions comprising the crystalline form and the use of the crystalline form in medical treatment are also disclosed.
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