"Psychedelic Investment Shift: From Idealism to Pharma Economics"

The psychedelic medicine industry is attracting significant investment, with startups racing to patent key ingredients found in magic mushrooms and other substances. However, this has led to concerns that these drugs, once seen as a low-cost solution for mental health, may become expensive specialty medications controlled by a few biotech companies. While promising results have sparked popular interest, the industry faces challenges in converting illegal drugs into profitable medicines, leading to layoffs and stock declines. The rush to patent and innovate psychedelics has also raised concerns about the potential impact on research and the risk of another backlash like the 1970 federal ban on psychedelic research.