Stories
Psychedelics: From Taboo to Billion-Dollar Medical Bet
- •Psychedelic drugs like psilocybin and MDMA are re-emerging as potential treatments for depression, PTSD, and other psychiatric conditions.
- •Major pharmaceutical companies like Eli Lilly, AbbVie, and Otsuka Pharmaceutical are investing billions in psychedelic-derived compounds.
- •The shift from fear to science in psychedelic research has been gradual, with key turning points like MAPS' 1992 FDA protocol submission.
- •While promising, the science behind psychedelics is still evolving, with mechanisms not fully understood and calls for rigorous research.
- •Regulatory challenges, therapist training, and ensuring equitable access are critical considerations as psychedelics move towards mainstream medicine.
Key Questions Answered
Eli Lilly completed its acquisition of AtaiBeckley to develop rapid-acting neuroplastogens like BPL-003 for treatment-resistant depression, AbbVie acquired Gilgamesh Pharmaceuticals' lead candidate bretisilocin, and Otsuka Pharmaceutical's American subsidiary acquired Transcend Therapeutics.
The US Food and Drug Administration held a public hearing to gather perspectives on the potential future therapeutic use of psychedelic substances in supervised settings, with written public comments due by October 5, 2026.
Psychedelics like LSD and psilocybin are strictly controlled under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, which prohibits them while allowing limited use and cultivation for medical or scientific purposes under strict rules.
