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

Vishal ojha

4 Feb, 2024

Money is pouring into the psychedelic medicine industry, with dozens of startups vying to sell mind-expanding drugs like magic mushrooms and ayahuasca. Wall Street's exuberance for hallucinogens has rankled advocates, who fear that these drugs will become expensive, specialty medications controlled by a handful of biotech companies rather than being widely available for mental health.

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