As investors pile into psychedelics, idealism gives way to pharma economics

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Money is pouring into the fledgling psychedelic medicine industry, with dozens of startup companies vying to be among the first to sell mind-expanding drugs for depression, addiction and other mental health conditions.

Wall Street’s sudden exuberance for hallucinogens has rankled longtime advocates and philanthropists, who dreamed of making low-cost psychedelics widely available for mental health and personal growth. Instead, many now see a very different future for drugs like psilocybin and LSD: as expensive, specialty medications controlled by a handful of biotech companies.

https://apnews.com/article/psychede...ilocybin-fda-e3f629f817781b096d72535e022d8b2f
 
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