Issue 38

Biden Calls for Lower Drug Prices: Should Psychedelics Investors be Concerned?

At the start of July, US President Joe Biden signed an executive order to drive down prescription drug prices, with a wide-reaching impact across healthcare. Should investors in psychedelic medicine be concerned?

The government hopes to increase competition through the directive, in a market where Americans pay 2.5 times more for treatments than the global average. The US spends more on healthcare as a share of the economy than other developed countries, but has one of the lowest life expectancies, with the highest rate of avoidable deaths. As Biden’s government aims to curb revenue gains made by pharmaceutical companies, financiers wait patiently in the wings to contain threats and capitalise on emerging opportunities.

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JAMAICA ADOPTS PROTOCOLS FOR CULTIVATING AND PROCESSING PSILOCYBIN

The Caribbean country is quickly working towards a regulated framework, with the government aligning with stakeholders to maximise the market’s potential.

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NASDAQ EXPLORES THE GROWTH OF THE PSYCHEDELIC INDUSTRY

As psychedelic medicine looks to disrupt healthcare, investors have been paying close attention, with over US$220m raised by private companies in 2020.

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BUSINESS AND INVESTMENT

Creso Pharma acquires Halucenex Life Sciences.

Braxia Scientific gets direct billing insurance on ketamine treatments.

Global Wellness Strategies acquires Shanti Therapeutics from Cannvalate.

Levitee Labs starts trading on Canadian Securities Exchange under ‘LVT’.

Tryp Therapeutics to provide Q3 investor update on 29 July.

Pure Extracts signs white label agreement with Green Light Solutions.

Relmada Therapeutics to acquire rights to Arbormentis’ psilocybin programme.

Mydecine Innovations files patent for MDMA derivative.

MycoMeditations to expand psilocybin wellness retreats.

Small Pharma creates psychedelic-assisted therapy training programme.

Optimi Health included in Horizons ETF.

Mindleap Health to launch 2.0 version of virtual health platform.

Bruce Linton to join The HighBrid Lab as chairman of the board.

Nova Mentis appoints Dr Stephen Glazer as Director and Chief Science Officer.

Dimensions Health appoints Chief Medical Officer and Managing Director of Hospitality.

Ian Burnstein joins Wesana Health’s advisory board.

Mindset Pharma appoints Dr Ishrat Husain to its scientific advisory board.

Octarine Bio expands its scientific advisory board.

RESEARCH AND SCIENCE

Tryp Therapeutics announces Phase 2a clinical trial for fibromyalgia.

Psilera Bioscience receives US$2.5m for psychedelic research.

NeonMind provides update on psilocybin-based compound.

Researchers in Dublin trial ketamine for treatment-resistant depression.

The effects of psychedelics on your brain.

Observational study on mental well-being following psychedelics published.

Experimental treatments changed the course of the AIDS epidemic; we need the same approach to mental illness.

Knowde Group partners with LMC Manna Research to conduct clinical trials.

REGULATION AND LEGISLATION

California activists file psilocybin legalisation measure.

Australian decriminalisation campaign urges destigmatisation of drug use.

Michael Pollan’s new book explores the war on drugs.

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