Jim Cramer defends Elon Musk's use of ketamine for depression: The CEO 'saved a lot of lives'

Published Tue, Mar 19 202410:57 AM EDTUpdated Tue, Mar 19 202411:23 AM EDT

CNBC's Jim Cramer said Tuesday that Elon Musk's disclosure that he takes prescription ketamine for depression was courageous and "saved a lot of people from killing themselves." "I defend him as much as possible because there are many people who would never be brave enough to admit they take this drug," Cramer said on " Squawk on the Street ." Cramer was reacting to the Tesla CEO telling former CNN anchor Don Lemon that the treatment helps him and is good for investors. "Ketamine is helpful for getting one out of a negative frame of mind," Musk told Lemon. "If there is something I'm taking, I should keep taking it." The video was posted five days after Musk canceled Lemon's deal for a new talk show on X, the billionaire entrepreneur's social network formerly called Twitter. The interview was supposed to have been the first episode. "It's a shame," Cramer said. Musk admits he has depression and admits he takes a drug that has helped millions of people and "for that, he's pilloried?" Cramer said. "Why should we care that he needs a legal substance to be able to create things that you and I can't create?" Cramer said he's worked with Johnson & Johnson to understand the benefits of ketamine for depression. "This drug is a safe saver; safe saver meaning it's saved a lot of people from killing themselves." The Food and Drug Administration in 2019 approved J & J's ketamine-like nasal spray to treat depression in patients who have not benefited from two or more antidepressants. "I hope that people recognize from this man that he just saved a lot of lives. I don't think he meant to, but he did," Cramer said. Over the years, the "Mad Money" host has defended Musk's brilliance as a visionary but has also questioned some of the Tesla and SpaceX CEO's remarks and stances on controversial issues. Musk's use of ketamine was reported in The Wall Street Journal in January, in the context of concerns raised by some Tesla and SpaceX executives. Ketamine was recently in the news because the autopsy report of "Friends" actor Matthew Perry said he died of the "acute effects of ketamine." Ketamine is controversial because of its reputation as a party drug known as Special K. If you are having suicidal thoughts or are in distress, contact the Suicide & Crisis Lifeline at 988 for support and assistance from a trained counselor.