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AAP

Health

Derek Rose

Companies sense opportunity in psychedelic legalisation

Scott Edwards ASX Australia Mental Health TGA The Therapeutic Goods Administration

The Therapeutic Goods Administration approved psychedelic treatments for mental health conditions. (Lukas Coch/AAP PHOTOS) (AAP)

Australia's world-first legalisation of psychedelic treatments for mental health conditions has companies pursuing a market opportunity to do well while doing some good.

From this weekend, specifically authorised and trained psychiatrists will be able to prescribe MDMA - sometimes known as "ecstasy" or "molly" - to treat post-traumatic stress disorder (PTSD).

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