A controlled release pharmaceutical formulation comprising a K ATP channel opener of wherein in Formulas II and III: R 1 is selected from the group consisting of hydrogen, lower alkyl, substituted lower alkyl, cycloalkyl, and substituted cycloalkyl; R 2a is selected from the group consisting of hydrogen, and lower alkyl; R 2b is selected from the group consisting of hydrogen, and lower alkyl; X is a 1, 2 or 3 atom chain, wherein each atom is independently selected from carbon, sulfur and nitrogen, and each atom is optionally substituted with halogen, hydroxyl, lower alkyl, substituted lower alkyl, lower alkoxy, cycloalkyl, substituted cycloalkyl, substituted lower alkoxy, amino, and substituted amino; and ring B is saturated, monounsaturated, polyunsaturated or aromatic, and wherein in Formulas IV and V: R 1 is selected from the group consisting of hydrogen, lower alkyl, substituted lower alkyl, cycloalkyl, and substituted cycloalkyl; R 2a is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 2b is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 3 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino; and R 4 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino; for use in a method of treating obesity or elevated triglycerides in a patient suffering from hyperlipoproteinemia type I, type II, type III, or type IV, comprising administering to said subject once per 24 hours a therapeutically effective amount of said controlled release formulation, wherein the amount of said KATP channel opener administered to said patient is between 50 and 275 mg/day. R 1 is selected from the group consisting of hydrogen, lower alkyl, substituted lower alkyl, cycloalkyl, and substituted cycloalkyl; R 2a is selected from the group consisting of hydrogen, and lower alkyl; R 2b is selected from the group consisting of hydrogen, and lower alkyl; X is a 1, 2 or 3 atom chain, wherein each atom is independently selected from carbon, sulfur and nitrogen, and each atom is optionally substituted with halogen, hydroxyl, lower alkyl, substituted lower alkyl, lower alkoxy, cycloalkyl, substituted cycloalkyl, substituted lower alkoxy, amino, and substituted amino; and ring B is saturated, monounsaturated, polyunsaturated or aromatic, and wherein in Formulas IV and V: R 1 is selected from the group consisting of hydrogen, lower alkyl, substituted lower alkyl, cycloalkyl, and substituted cycloalkyl; R 2a is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 2b is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 3 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino; and R 4 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino; R 1 is selected from the group consisting of hydrogen, lower alkyl, substituted lower alkyl, cycloalkyl, and substituted cycloalkyl; R 2a is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 2b is selected from the group consisting of hydrogen, lower alkyl, and substituted lower alkyl; R 3 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino; and R 4 is selected from the group consisting of hydrogen, halogen, lower alkyl, substituted lower alkyl, amino, and substituted amino;