PPARG and diabetes mellitus: Balaglitazone, a novel partial agonist of PPAR‐γ, developed by Dr. Reddy's Laboratories as an antihyperglycemic agent, is currently in Phase III clinical trials in the United States and Europe.[55] Rivoglitazone, another thiazolidinedione derivative by Daiichi Sankyo, is under research for potential use in treating type 2 diabetes mellitus.