Medium-chain length fatty alcohols such as octanol, decanol, dodecanol, or analogues thereof can be used as a stimulator of hematopoiesis, hematopoietic stem cell proliferation, and/or proliferation of one or more of the progenitors of red or white blood cells (e.g., erythrocyte, leukocyte, neutrophil, granulocyte, megakaryocyte, or any combination thereof). It also relates to the treatment of myelosuppression; in particular, this includes the treatment of anemia and/or neutropenia associated with chemotherapy and/or radiotherapy. Moreover, anemia arising from chronic renal failure or treatment of HIV-infected patients with AZT (zidovudine), or other inhibitors of reverse transcriptase, can be treated. Furthermore, neutropenia arising from infections, hematologic diseases, or nutritional deficiencies can be treated. It also relates to reducing drug toxicity and enhancing drug efficiency.