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Why Companies Are Betting Big On Psychedelic Drugs To Treat Mental Health Epidemic - Financialnewsmedia.com News Commentary Share this article Share this article PALM BEACH, Fla., April 28, 2021 /PRNewswire/  Psychedelic medicine is having a moment. Once dismissed as a party drug for its hallucinogenic effects, ketamine is emerging as a novel alternative treatment for depression. For most, psychedelic drugs conjure up images of the 1960 s, hippies tripping out on LSD or magic mushrooms. However, early studies are finding that psilocybin – the active agent in magic mushrooms – could treat addiction, depression, anxiety and mental health conditions like post-traumatic stress disorder (PTSD). Similarly, cancer patients with painful anxiety over their illness have found more peaceful acceptance after participating in a study that involved intensive therapy and being given a drug that was once a symbol of the 60 s counterculture.  Last year, the US Food and Drug Administrati

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