For Bristol-Myers Drug, Condition Is Critical

Bristol-Myers Squibb (BMY Quote), in a stunning disclosure Thursday, said it may have to cancel efforts to market its experimental diabetes drug Pargluva.

Further tests required to meet the requirements of the Food and Drug Administration could take five years, the company said.

"Bristol-Myers Squibb will continue discussions with the FDA and will consider a range of options including conducting additional studies or terminating further development," the company said. ...