The drug may help to combat a couch potato lifestyle
The so-called "couch potato" drug is being seen as a weapon against increasing levels of obesity and diabetes.
The new drug will be based on a genetic process called AMPK which was discovered by Professor Grahame Hardie at Dundee University in the 1980s.
The scientists said the drug tells the body's muscles to burn off carbohydrate and fats and prevents them from being stored in fat tissue.
It is thought that this process, which is usually triggered by exercise, is responsible for the beneficial effects of an active lifestyle in warding off obesity and diabetes.
Professor Hardie is now working with pharmaceutical companies to develop a new generation of AMPK-activating drugs that may be more effective than existing drugs.
Sedentary lifestyle
He said the AMPK system was activated in cells when they run short of energy and triggers the uptake and metabolism of glucose and fats.
"Clearly the best policy is to eat sensibly and exercise regularly, which will greatly reduce your chances of becoming overweight and developing Type 2 diabetes.
"However, when regular exercise is not possible, such as in older people where other health problems may prevent it, drugs that activate AMPK are an alternative.
"They may help to combat the effects of a sedentary lifestyle."
Type 2 diabetes is due to the body failing to respond properly to insulin, the hormone that stimulates tissues to absorb glucose from the blood.
Experts said a worldwide rise in this form of the illness was linked to a modern urban lifestyle of high-calorie, high-fat junk foods combined with lack of exercise.
Although the Type 2 form was previously only diagnosed in older people, it has recently been found in young people who are overweight.
Professor Hardie, who is the co-ordinator of a £1m European project on the fat-burning process , is also organising a conference to discuss the findings in Dundee later this year.