Glucophage (Metformin) is a trade name for the oral anti-hyperglycemic agent metformin HCL.Glucophage is generally used in the management of mature onset (Type-Il) diabetes and utilized when dietary management and exercise alone have not been able to control the disease, yet injectable insulin is not appropriate since this hormone is still present in the body. While the main activity of Glucophage (metformin HCL) is the increased utilization of glucose, it does not directly mimic the action of insulin.