Depends . Diabetes type 2 is a result of tissues not responding normally to insulin. This Insulin resistance is triggered in part by increased body fat, diet, exercise, age, genetics. The modifiable factors can lead to reversal of resistance, thus a "cure". These patients are sometimes encouraged to continue meds such as metformin to keep the disease away.
No. There is no cure, there are only treatments to manage diabetes. There is unfortunately no magic drug to cure it.