BMS launches talks to dissolve diabetes collaboration
Bristol-Myers Squibb has agreed to start talks with Merck on ending their collaboration on the Type 2 diabetes drug muraglitazar. Researchers believe that additional trials will be needed to present the results needed to gain FDA approval--a process that could take up to five years. BMS also reported third-quarter sales of $964 million, up from $755 million a year ago. Overall revenue was down slightly. Sales of the stroke drug Plavix surged 9 percent.
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