Mood stabilizers are medicines that treat and prevent highs (manic or hypomanic episodes) and lows (depressive episodes). They also help to minimize the negative effects of mood states on functioning at work or school or in social situations.Technically, the FDA does not classify medicines as mood stabilizers..ithium and other mood stabilizers, certain antipsychotic drugs that treat bipolar depression, and sometimes antidepressants are used to treat bipolar depression. For mania, depression, or maintenance, these drugs might be used alone or in combinations.