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

By MATTHEW PERRONE
AP Health Writer

Dozens of psychedelic startup companies are racing to begin selling mind-expanding drugs for depression and other mental health conditions, riding a wave of promising research and media hype. The rush to market has sparked patent battles among companies trying to claim key ingredients found in magic mushrooms and other drugs, most which have been used recreationally for decades. The commercial push has rattled longtime advocates who dreamed of making psychedelics widely available for mental health and personal growth. Instead, many fear the drugs will become expensive, specialty medicines controlled by a handful of companies.