This present invention provides methods and pharmaceutical compositions for the treatment or prophylaxis of diabetes and related disorders, comprising the administration of an effective amount of a compound including an optionally substituted phenyl ring linked to an aromatic or alkyl group by a spacer, wherein the spacer includes two groups selected from selenium, sulfur, S(O) and S(O).sub.2 and may include an alkylene, alkenylene, cycloalkylene or arylene moiety between the selenium, sulfur, S(O) or S(O).sub.2 groups, or a pharmaceutically acceptable salt or derivative thereof.