Just because two companies are trying to making a medicine for the same condition doesn’t mean the world belongs to the first medicine to get approval. And that approval is at least 3-5 years away. We just know that there are 2 players at the starting line and nothing else for now.
IHL has thrown its hat in the ring and come up with a drug which also has a patent filing, sponsoring the whole process of clinician training and a proper process for clinical trials. Just jumping ahead and assuming the success of the trials shows total lack of appreciation for the process, the rigour, the steep regulatory hurdles, the social stigma, insurance cover for such treatments and everything else that needs to be accomplished to get to the finish line. And when you get to the finish line which is FDA approval, the world is big enough for 2 medicines even if both are equally effective. Even IF IHL’s drug is less effective than Mindmed’s that doesn’t mean no doctor will prescribe IHL’s medicine. There may be milder cases where IHL’s drug may suffice, or the price point or effectiveness or safety profile acceptable to patients and doctors.
It is like the space race- there is space for NASA, SpaceX, Blue Origin and Virgin galactic and many more to participate and even after everyone has launched their rockets/ high altitude planes, the race is not yet over, the market is not saturated nor the market need filled. It’s just the beginning. The world is still an oyster.
Existence of Mindmed’s medicine and trials proves that their a market need, helps drive appreciation of the large unmet need and development of the psychedelic medicine industry (just like CBD based drugs) which are in a nascent stage. So Mindmed and IHL should jointly promote the industry and the cause rather than just consider each other competition with a do or die attitude which I am sure mgmt’s are more mindful of.
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