On December 31, 2021, New York Governor Kathy Hochul signed landmark legislation to increase the transparency of prescription drug pricing and to establish requirements on pharmacy middlemen. This new law is amongst 100  state bills introduced in 2021 that shed light on the business practices of pharmacy benefit managers
In the last few years, we have seen an uptick in behavioral health groups focused on psychedelic treatments. There are now at least five (5) psychedelic-assisted therapy platforms traded on NASDAQ with numerous others listed on the Toronto Stock Exchange and elsewhere. Ketamine treatments, in particular, have garnered considerable attention from patients, providers and investors. Treatment models range from more traditional psychotherapy and infusion services similar to those offered by Columbia University to telemedicine-enabled psychotherapy coupled with mail-delivered tablets of ketamine under the Mindbloom model. However, despite the growth in adoption, Ketamine remains a controlled substance and ketamine behavioral health remains an industry with material regulatory risks.
We have set forth certain key considerations for various stakeholders involved with ketamine behavioral health.