Lotions and potions galore.
So, how does it work? All a player needs to do is press "n" to open the professions window and select one of the alchemy types available to them. From there they can make whatever they have gathered the ingredients for.
While turning lead into gold is currently unavailable, there is already a large range of potions and elixirs to choose from. For example, players can craft potions that will refill stamina, action points and health. On a more interesting note, special experimentation potions are also available to be crafted. For example, the "major unstable potion" has a chance to either give you a powerful buff, heal you, teach you a new crafting recipe or even inflict negative effwect such as an "unstable transformation". Sounds like alchemy could be worth giving a try if only for the hilarity that ensues when you get the wrong effect at the worst possible moment.
Last but not least, alchemy also adds special dyes that can only be gained through the profession. Whether you're concerned with useful consumables, your character's appearance or just having fun, alchemy seems to offer something for everybody. If you're interested, Neverwinter is free-to-play, so you've nothing to lose by giving it a try!