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Saxenda (liraglutide) is similar to a hormone that occurs naturally in the body and helps control blood sugar, insulin levels, and digestion. Saxenda is an injectable prescription medicine that may help some obese adults or overweight adults, who also have weight related medical problems, to lose weight and keep the weight off. It is used together with diet and exercise. Saxenda is not a weight-loss medicine or appetite suppressant. Saxenda is not for treating type 1 or type 2 diabetes.