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I found I had a similar experience - after a few years on Seretide (the brand name for Advair in Australia) I found that I suddenly developed excessive hair growth in areas where I never normally grew hair - what's more they grew according to a "male hair growth pattern" and I too gained excessive weight.  The hair growth (and subsequent ingrown hair problem) are so bad I have been going to laser treatment.  Since stopping the medication my weight has dropped from around my stomach (I didn't do anything special to lose this weight - ie nothing different to what I did while taking Seretide) and while I am stuck treating the ingrown hairs, no new hair growth has occured.   Interestingly enough, I recently needed to use it as I was desperate for help with my breathing and after 3 days of usage, I developed 3 new excessive hair growths - also resulting in ingrown hairs - which is enough to make me swear off using products with steroids in them.