A push to make finasteride available over-the-counter for treating male hair loss has been knocked back, with the TGA saying it would set a “dangerous precedent”.

The application to downschedule packs of 1mg finasteride tablets claimed that patients could “easily identify the symptoms of male pattern hair loss” and pharmacists could exclude any other causes.

It also argued for permission to advertise the drug, which retails for $19.99 for one month’s supply at major pharmacies, directly to patients.

But the AMA came out strongly against the proposal, saying hair loss treatment was a “highly lucrative and easily abused industry”.