Innovator Embraces Psychedelic Horizons With New Schedule 1 Manufacturing License
Portfolio Pulse from Lara Goldstein
Societal CDMO Inc. (NASDAQ:SCTL) has secured a DEA Schedule 1 Controlled Substances manufacturer’s license, allowing it to enter the biopharma industry’s psychedelic drugs subsection. This expands Societal’s drug development capabilities, building on its 25 years of experience manufacturing Schedule 2 compounds. The company will now offer research and commercial customers high-quality cGMP clinical psychedelic supplies.
July 27, 2023 | 8:24 pm
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Societal CDMO's new license to manufacture Schedule 1 Controlled Substances allows it to enter the psychedelic drugs market, potentially opening up new revenue streams.
Societal CDMO's new license allows it to manufacture Schedule 1 Controlled Substances, which includes psychedelic drugs. This could potentially open up new revenue streams for the company as it can now offer high-quality cGMP clinical psychedelic supplies to research and commercial customers. This could have a positive impact on the company's stock price in the short term.
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