Background.-Excess added sugars, particularly from sugar-sweetened beverages, are a major risk factor for cardiometabolic diseases including cardiovascular disease (CVD) and type 2 diabetes. In 2016, FDA mandated the labeling of added sugar content on all packaged foods and beverages. Yet, potential health impacts and cost-effectiveness of this policy remain unclear. Methods.-A validated microsimulation model (IMPACT) was used to estimate CVD and type 2 diabetes cases averted, quality-adjusted life-years (QALYs), policy costs, healthcare, informal care and lost productivity {health-related) savings and cost-effectiveness of two policy scenarios: (1) implementation of the FDA added sugar labeling policy (sugar label), and (2) further accounting for corresponding industry reformulation (sugar label+reformulation). The model utilized nationally representative demographic and disease data from CDC Wonder Database, dietary intake from NHANES, policy effects and diet-disease effects from meta-analyses, policy and health-related costs from established sources. Probabilistic sensitivity analysis accounted for model parameter uncertainties and population heterogeneity.