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NEW YORK (AP) - Bristol-Myers Squibb Co., said Thursday that a diabetes drug it was touting as part of its turnaround may be abandoned because it will need about five more years of testing to answer questions raised by regulators.
The setback is also a disappointment for Merck & Co.. which was jointly developing Pargluva with Bristol-Myers.
Merck, which is still flagging from the loss of its blockbuster pain medication Vioxx, is badly in need of new drugs to sell. Bristol-Myers has been struggling with a slew of patent expirations and an accounting scandal.
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