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Pargluva

Bristol-Myers Squibb Company

Drug Names(s): Muraglitazar

Description: Muraglitazar is a non-TZD, dual PPAR (alpha/gamma) agonist in development for the treatment of type 2 diabetes and its associated dyslipidemia.

Deal Structure: Bristol-Myers Squibb and Merck entered into a global collaborative agreement for muraglitazar on 4/28/04. Under the terms of the agreement, Bristol-Myers Squibb will receive a $100 million upfront payment and $275 million in additionalpayments based upon the achievement of certain regulatory milestones. Bristol-Myers Squibb and Merck will jointly develop the clinical andmarketing strategy for muraglitazar and share equally in future development and commercialization costs. Both companies willco-promote the product to physicians on a global basis, and Merck will receive payments based on net sales levels. In addition, Merck received rights to development and commercialization for a back-up compound to muraglitazar.

On December 22, 2005, Bristol-Myers Squibb and Merck announced the dissolution of their partnership, with all rights to Pargluva (and a backup compound) returning solely to Bristol-Myers Squibb.


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