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Paxil and other drugs of this type, selective serotonin-reuptake inhibitors or SSRIs do have side effects which can affect libido and cause ejaculatory problems in some males, as well as females. However, depression itself can cause these issues through symptoms of anhedonia, lack of motivation, etc. Sometimes difficult to determine which is primary, depression of medication. Once the medication is stopped, the sexual issues should subside in three to four days.
There are some anti-depressants which have much less side effects such as Wellbutrin or Remeron for example. You could also consider Viagra to assist if your depression is under control with Paxil.
Please seek additional assistance through your prescribing physician if you choose to change medications. This is not a medication to stop on your own. Gina