They found metformin used as a single therapy was the best first-line treatment for controlling blood glucose long-term, especially for overweight patients.
Metformin (Brand name: Glucophage) was approved by the FDA for use in type 2 diabetes in December, 1994. A generic form became available in January 2002.
For a summary of the study:
Diabetes drug controls blood glucose, cardiac risk
For the study itself:
Published in The Cochrane Library, July 2005 (abstract only, subscription required for full article)
Metformin monotherapy for type 2 diabetes mellitus