OBJECTIVES:  Dulaglutide 1.5mg once weekly is a novel glucagon-like peptide 1 receptor (GLP-1) agonist, for the treatment of type 2 diabetes mellitus (T2DM). The objective of this analysis was to estimate the cost-effectiveness of dulaglutide versus liraglutide 1.8mg and liraglutide 1.2mg for the treatment of T2DM in Sweden. METHODS:  The IMS CORE Diabetes Model (CDM), a validated simulation model, was used to estimate expected costs and outcomes.  The comparators investigated were liraglutide 1.8mg and liraglutide 1.2mg. In accordance with Swedish guidelines the analysis was conducted using a societal perspective including Swedish-specific direct and indirect costs over a lifetime time horizon. Comparative safety and efficacy data were derived from direct comparison of dulaglutide 1.5mg versus liraglutide 1.8mg from the AWARD-6 trial and from a network meta-analysis for the comparison of dulaglutide 1.5mg versus liraglutide 1.2mg. One-way and probabilistic sensitivity analyses were conducted to explore the sensitivity of the model to plausible variations in key parameters and overall uncertainty. RESULTS: Under base case assumptions, dulaglutide 1.5mg was found to be less costly and more effective versus liraglutide 1.8mg (total costs 1,032,258 SEK vs 1,045,927 SEK; total QALYS 8.062  vs 8.033 for dulaglutide 1.5mg and liraglutide 1.8mg, respectively) and liraglutide 1.2mg (total costs 1,048,832 SEK vs 1,051,224 SEK; total QALYs 8.016 vs 7.974 for dulaglutide 1.5mg and liraglutide 1.2mg, respectively). One-way sensitivity analyses demonstrated that dulaglutide 1.5mg remained dominant versus liraglutide 1.8mg given plausible variations in key input parameters. Results of the probabilistic sensitivity analysis were consistent with base case results. CONCLUSIONS:  In the base case, the model found that dulaglutide 1.5mg was more effective and less costly than liraglutide 1.8mg and liraglutide 1.2mg for the treatment of T2DM in Swedish setting. Findings were robust to plausible variations in inputs. The introduction of dulaglutide 1.5mg may result in societal cost savings.