NZ 613029 Disclosed is a transdermal or transmucosal formulation comprising: - 2% weight of testosterone, - C2 to C4 alkanol, - polyalcohol, and - a monoalkyl ether of diethylene glycol permeation enhancer, wherein said formulation comprises fatty alcohols, fatty acids, and fatty esters having a branched or linear acid moiety having 8 or more carbon atoms or having a branched or linear alcohol moiety having 8 or more carbon atoms in a total amount of less than 0.1% wt.