Step 1: Concept
Oral hypoglycemic agents are classified into groups like sulfonylureas, biguanides, and thiazolidinediones.
Step 2: Meaning
Biguanides are compounds containing two guanidine groups linked together.
Step 3: Analysis
Glibenclamide is a sulfonylurea; Pioglitazone is a thiazolidinedione. Metformin is the most widely used biguanide drug.
Step 4: Conclusion
Metformin is the correct biguanide derivative used in diabetes management.
Final Answer: (B)