The various embodiments herein provide a topical drug composition for the treatment of diabetes-related complications. According to one embodiment herein, the composition comprises of a compound belonging to a group of chemicals containing borates. Boric acid is used as the base material of the drug. Boric acid is dissolved in saline 0.9% or half saline serum or water, distilled water or boiled water to obtain a boric acid solution with given concentration. The best concentration is 3-5% solution. Alcohol at preset concentration is added to the boric acid solution. According to another embodiment, a method is provided for preparing a topical drug composition for the treatment of diabetes-related disorders.