If you’ve been affected by hair loss, you may have been looking into prescription medication options. While these don’t provide a quick fix, the correct treatment can help restore hair fullness over time in most cases. Finasteride is the most common oral option, but growing evidence shows it can also impact some patients’ mental health. This guide breaks down the latest, verified findings, compares MinoxidilFinasteride side effects, and points you toward a solid plan of action for hair loss treatment.
Can Finasteride Cause Mood Swings?
Can Finasteride Cause Mood Swings?
Finasteride’s Potential Mental Health Side Effects
Australian adverse event reports and peer-reviewed studies consistently link finasteride to a cluster of psychiatric symptoms. These effects are thought to stem from finasteride’s inhibition of neurosteroid synthesis in the brain, a mechanism separate from its primary action of lowering dihydrotestosterone (DHT) in the scalp.
Most of these side effects ease when the patient stops treatment, but some seem to persist. These are sometimes described as Post Finasteride Syndrome (PFS), although PFS is not yet a formal medical diagnosis.
Here are the reported symptoms and how they tend to present [1].
- Depression: New or worsening low mood, loss of interest, fatigue
- Anxiety/panic attacks: Persistent nervousness, occasional severe panic episodes
- Suicidal ideation: Thoughts of self-harm
- Anhedonia: Inability to feel pleasure in usual activities
- Cognitive fog: Trouble concentrating, memory lapses (“brain fog”)
Regulators’ Response to Finasteride’s Mental Health Side Effects
Worldwide, regulations around Finasteride’s safety for mental health is evolving, and several regulators have recently sounded the alarm. In Australia, the Therapeutic Goods Administration (TGA) has issued information on PFS [2].
The European Medicines Agency (EMA) officially recognised in May 2024 that suicidal thoughts can be a side effect of the 1 mg finasteride tablets [3]. France’s regulator took an even firmer stance, concluding that, for male pattern hair loss, the drug’s potential risks now outweigh the therapeutic benefits [4].
In Australia, several generic brands still omit these warnings from their product information, a gap highlighted by advocacy groups in late 2025 [4].
How do Minoxidil and Finasteride’s Side Effects Compare?
| Finasteride (oral) | Minoxidil (topical) | |
| Primary action | Reduces DHT systemically | Increases scalp blood flow |
| Common physical side effects | Reduced libido, erectile changes | Scalp irritation, itching |
| Documented mental health risks | Depression, anxiety, suicidal ideation, cognitive fog | No systemic mental health risks reported |
| Prescription status | Schedule 4 (prescriptiononly) | Overthecounter |
Practical Steps to Take
Your first step for any hair loss treatment to get a diagnosis. This is best done by a GP either in person or via telehealth consult with additional testing, where necessary. There are also specialised hair loss providers, but be sure you choose a safe, legitimate, high-quality option. MediCompare’s hair loss page has up-to-date information on vetted providers, including pricing, delivery options, and ratings.
If you’re considering taking Finasteride, it is important to discuss the potential mental health risks openly with your doctor before starting treatment. If mood changes are a concern due to your medical history or predisposition, your doctor may suggest starting with topical Minoxidil. Essentially, Finasteride should be only considered when the benefit clearly outweighs the risk.
If you’re already taking Finasteride, it’s a good idea to take note of and document any mood changes in the first weeks of treatment. Logging time, date and symptoms will make it easier to discuss your concerns at a follow-up.
If you notice depressive symptoms, anxiety spikes, or thoughts of self-harm, seek help immediately. You can call Lifeline on 13 11 14 or emergency services on 000.
Disclaimer
This article is for informational purposes only and is not a substitute for professional medical advice. Please choose your provider with care. Always consult your doctor or a qualified health professional regarding any health-related questions or concerns.
References
[1] https://www.mayoclinic.org/drugs-supplements/finasteride-oral-route/description/drg-20063819
[2] https://www.tga.gov.au/sites/default/files/public-submissions-scheduling-matters-referred-acms-27-accs-25-and-joint-acms-accs-22-meetings-held-june-2019-pa1.pdf
[3] https://www.ema.europa.eu/en/news/measures-minimise-risk-suicidal-thoughts-finasteride-dutasteride-medicines
[4] https://www.pfsfoundation.org/news/french-drug-regulatory-authority-unveils-worlds-most-thorough-pfs-prevention-program/