A formulation, especially one that is topically administered, comprising a combination of rapamcycin and metformin in a molar ratio of about 20:1, 10:1, 5:1, 4:1, 3:1, or 1:1. The topical formulation may be a gel, an ointment, a cream or a lotion. The topical formulation may be used to treat any disease associated with inflammation and/or any inflammatory skin disease.