The tablet can dramatically slash the chances of sufferers developing heart disease, one of the main fatal effects of diabetes.
It could even replace aspirin as the blood-thinning drug of choice for diabetics, the 'Daily Express' reported.
Researchers at the University of the Highlands and Islands say the clot-busting drug is currently licensed for use in reversing the harmful effects of a paracetamol overdose.
Heart disease is the major cause of reduced life expectancy in patients with diabetes who have about twice the risk of developing a range of cardiovascular diseases.
The discovery found that a daily treatment of patients with the drug, which is called N-acetylcysteine, reduces clot formation in the blood and is more effective than aspirin.
The study is published in the journal 'Diabetologia'.
