The present invention is directed to a compound of formula (I), or a
pharmaceutically acceptable salt, solvate hydrate or stereoisomer
thereof, which is useful in treating or preventing disorders mediated by
a peroxisome proliferator activated receptor (PPAR) such as syndrome X,
type II diabetes, hyperglycemia, hyperlipidemia, obesity, coagaulopathy,
hypertension, arteriosclerosis, and other disorders related to syndrome X
and cardiovascular diseases.