Yes, but results. Are minimal!
Yes. Acarbose blocks the conversion of complex carbohydrates into sugar, and delays their absorption. It also restores insulin receptor sensitivity, and benefits the cardiovascular system, resulting in a significant decrease of cardiovascular events. It is a very safe drug, but may cause gas or diarrhea, due to the fermentation of undigested carbohydrates in the colon. Minimize by reducing dose.
Weight loss. Weight loss is generally a good idea but in my opinion weight loss is best attained if you eat correctly and exercise regularly. If you loose weight rapidly you are likely to gain it back rapidly, so slow weight loss is much better. How much to loose in a week - tough call. Start with 1/2 to 1 pound a week but don't overdo it.