The present invention is concerned with racemic or enantiomerically enriched substituted carboxylic acids and derivatives thereof represented by Formula 1; or pharmaceutically acceptable salts thereof. The present invention also includes pharmaceutical compositions comprising an effective amount of a compound of Formula 1 in admixture with a pharmaceutically acceptable carrier or excipient. The compositions may include additional therapeutic agents for combination therapy. The present invention provides a new class of pharmaceutically active compounds, which are useful in the treatment and control of diabetes and its related metabolic diseases.