Phenoxyalkanoic acid derivatives and process for preparation thereof

There is disclosed a phenoxyalkanoic acid compound of the formula: wherein R is a substituted or unsubstituted phenyl group, naphthyl group, a sulfur- or nitrogen-containing 5- or 6-membered heterocyclic group or a lower alkyl group; R is hydrogen atom or a lower alkyl group; one or two of R - R is (are) lower alkyl group(s) and others are hydrogen atoms; each of R and R is a lower alkyl group; and each of Alk1 and Alk2 is single bond or a lower alkylene group, or a pharmaceutically acceptable amide or salt thereof, which have excellent hypolipidemic activities and are useful for prophylaxis and treatment of hyperlipidemia.