Hyderabad-based Dr. Reddy’s Laboratories Limited has recently received a U.S. Patent No. 7,157,581 (the ‘581 patent) directed to novel b-aryl-a-oxysubstituted alkylcarboxylic acids of general formula I, their derivatives, their analogs, their tautomeric forms, their stereoisomers, their polymorphs, their pharmaceutically acceptable salts, and their pharmaceutically acceptable solvates useful for (1) reducing body weight and for the treatment and/or prophylaxis of diseases such as hypertension, coronary heart disease, atherosclerosis, stroke, peripheral vascular diseases and related disorders, (2) treating familial hypercholesterolemia, hypertriglyceridemia, lowering of atherogenic lipoproteins, VLDL (very low density lipoprotein) and LDL, (3) treating certain renal diseases including glomerulonephritis, glomerulosclerosis, nephrotic syndrome, hypertensive nephrosclerosis and nephropathy, (4) treating and/or prophylactic of insulin resistance (type II diabetes), leptin resistance, impaired glucose tolerance, dyslipidemia, disorders related to syndrome X such as hypertension, obesity, insulin resistance, coronary heart disease and other cardiovascular disorders, and (5) improving cognitive functions in dementia, treating diabetic complications, disorders related to endothelial cell activation, psoriasis, polycystic ovarian syndrome (PCOS), inflammatory bowel diseases, osteoporosis, myotonic dystrophy, pancreatitis, arteriosclerosis, retinopathy, xanthorna, inflammation and for the treatment of cancer. The ‘581 patent explicitly discloses list of 74 representative compounds covered within the structural scope of general formula I. Examples of the ‘581 patent in particularly exemplifies list of 30 compounds. The ‘581 patent claims earliest priority from Indian Patent Application No. 2420/MAS/97 filed October 27, 1997. The ‘581 patent falls within the International classification C07D 239/02 (20060101) and the US classification 544/319 (Compounds wherein the chalcogen (i.e., oxygen, sulfur, selenium, or tellurium) is bonded directly at the 4- or 6-position of the six-membered hetero ring).