With multiple promising psychedelics in late-stage development and one already filed with the U.S. Food and Drug Administration, mental health may be on the threshold of a renaissance not seen since the introduction of selective serotonin reuptake inhibitors (SSRIs) in the late 1980s. What a tragedy it would be if marketing and communications challenges stopped these drugs in their tracks.
The legendary Sandoz chemist Albert Hoffmann knew he had a tiger by the tail way back in 1938, when he was trying to come up with a new circulatory and respiratory stimulant and instead accidentally invented LSD. After sampling it himself a few times, as was common practice among chemists back then, Hoffmann found out firsthand that LSD could trigger experiences ranging from heavenly oneness with the universe to extremely uncomfortable bad trips.
This sparked robust research into the therapeutic potential of hallucinogens to treat a variety of psychiatric conditions. It also inspired the use of psychedelics for spiritual growth and recreational use — which, by the 1960s, had become so disturbing to governments in the United States and elsewhere that they banned the drugs and halted research into their clinical applications.
Hoffmann, who died in 2008 at the age of 102, never lived to see the fruits of his lifetime of lobbying to resurrect psychedelic research. Without it, though, we would not be where we are in 2024, which could be a monumental year in the history of treatment for mental health.
In addition to the potential approval of the first therapy-assisted psychedelic for post-traumatic stress disorder, psychedelic compounds are being studied in difficult-to-treat psychiatric conditions like depression, anxiety, eating disorders and addictions. The scale of these studies has prompted the Drug Enforcement Administration itself to call for a dramatic increase in production of more THC, psilocybin, ibogaine and DMT for research purposes.
But along with skyrocketing valuations and intense media interest comes a multitude of yellow flags. To name just a few:
Rehabilitating a Reputation: Deserved or not, psychedelics carry the reputational baggage of their status as Schedule I drugs — defined as having no currently accepted medical use and a high potential for abuse. This is compounded by decades worth of glorified tales of recreational use and misuse leading to vivid and sometimes frightening side effects. Thus it is easy to understand why people have little or no positive association with the idea of seeking relief from psychological pain through psychedelics.
Today, a whole new era of reputation-scuffing issues are emerging. Notable among them are highly publicized incidents of psychedelic guides taking advantage of vulnerable patients. Then there’s the recent tragic death of Matthew Perry, attributed in part to high blood levels of ketamine (an anesthetic with psychedelic effects).
These are only the tip of a very big iceberg threatening the future of psychedelic drugs. Such challenges will require the industry to educate stakeholders on the risk/benefit profile of the class and the importance of appropriate use in a professionally sanctioned setting.
Managing stakeholder perception: Another daunting task will be shaping the perceptions of the many stakeholders involved, physicians and patients chief among them. With the clinically developed and tested phase of therapeutic psychedelics in its infancy, many mental health providers are still getting up to speed. Dr. Rakesh Jain, a clinical professor of psychiatry at the Texas Tech University Health Sciences Center School of Medicine, has done in-depth research in the field and observed that both physician and consumer perceptions fall into three general categories: supportive, opposed and curious. This would indicate a huge population of constituents ripe for clear, accurate communications about therapeutic prescription pharmaceuticals.
Facilitating access to treatments: Many psychedelic therapies may work after just a few sessions, as opposed to extended periods of time. This begs the question: How will the psychedelics be priced? How much additional cost will come from the associated psychedelic-assisted therapy. And will insurance providers cover it? These are details which must be carefully communicated, keeping in mind the lessons learned from the experience of patients who were prescribed medical marijuana but often turned to unsanctioned entities to obtain what they needed at a lower cost and without the many hurdles required to fill their prescriptions.
Establishing brand identity: A big part of identity is brand voice, the language companies speak to express their principles, convictions and promise to stakeholders. Little-known startup ventures and century-old pharma stalwarts alike are seeking a foothold in the psychedelics frontier. But they’re doing it in very different ways — some more proactively, others under the radar. Adopting a corporate and brand voice that resonates with treaters and patients will not be easy, but it will go a long way toward building a legitimate and trustworthy presence among stakeholders.
Epitomizing ethical standards for therapy: Each treatment must include a specific protocol for treaters. Reports of inappropriate touching and hugging — and worse — during psychedelic-assisted therapy have already led to lawsuits. Companies entering this field will need to adopt or create rigorous codes of conduct, surveillance systems and other precautions to protect patients, healthcare practitioners and themselves. Companies will also need to be transparent about missteps, even those that may fall outside their purview.
Addressing the backlash: As these compounds — many derived from nature — are used as the basis for profitable prescription drugs, the industry may face a backlash for cultural appropriation and greed. Among those who want to stop the psychedelics gold rush, Nature Medicine has reported, are indigenous communities who believe companies are exploiting their traditional knowledge and cultural practices without acknowledgement or compensation. My belief is that companies in the psychedelics space need to acknowledge, adopt and demonstrate a philosophy of giving back to both this community (and to the planet) in a meaningful, measurable way.
This is by no means a comprehensive list of the challenges for marketers in this space, and it does not include the massive lift in terms of conducting trials, defining logistics and navigating a tricky and evolving legal and regulatory environment. A legion of unknowns stands between the companies embarking on the psychedelic journey and their destination. But the time to start is now.
Melyssa Weible is co-founder and managing partner of Elixir Health PR.
For a March 2024 article on Cybin CEO discussing the FDA’s breakthrough designation for a psychedelic drug treating MDD, click here.
