Bristol-Myers ends development agreement with Merck

Bristol-Myers Squibb and Merck have agreed to end their collaborative development of the investigational oral diabetes drug Pargluva (muraglitazar). Under the termination agreement, all rights to muraglitazar were returned to Bristol-Myers effective Dec. 21, 2005. The agreement also returns to Bristol-Myers the rights to a backup compound to muraglitazar, a dual alpha/gamma peroxisome proliferator-activated receptor. Bristol-Myers did indicate that it would continue discussions with the FDA about the drug.