The 53-year-old actor said that script is still in the works, reported Rolling Stone magazine.
"They're still trying to get that script right," Murphy said, referring to scriptwriters Josh Appelbaum and Andre Nemec who also penned 'Mission Impossible: Ghost Protocol'.
"I'm not doing a 'Beverly Hills Cop' unless they have a really incredible script. I've read a couple things that look like they can make some paper. But I'm not doing a movie just to make some paper. The film has got to be right," he added.