About metformin Metformin (Glucophage) is an inexpensive drug used to treat high blood sugar levels caused by type 2 diabetes. It is more popular than comparable drugs. It is available in both brand and generic versions. Generic metformin is covered by most Medicare and insurance plans, but some pharmacy coupons or cash prices may be lower. About Metformin Metformin is used to manage blood sugar levels in people with type 2 diabetes. It is sold under the brand name Glucophage and is available as the generic Metformin HCl. A standard supply is 30 500mg. Why Do Prices Vary by Pharmacy? Pharmacy pricing is not regulated in the United States, so retailers set their own cash prices. Metformin (glumetza) Extended Release Tablet · 500mg · 30 days supply Average insurance price $500 To get your exact price, transfer your prescription. 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