Why is Pharma So Scared of Psychiatric Drug Discovery?

The 1950’s heralded a golden age for psychiatric drug discovery; for the first time, compounds capable of treating serious mental disturbances were found that, despite their shortcomings, proved the pharmacotherapy of mental disorders was both possible and effective. 

Not only did these early treatments unlock the Victorian asylums and allow a more humane attitude to mental illness, they also led to the founding of modern neuroscience approaches to understanding the function and dysfunction of the most complex object in the universe- the human brain. This first wave of drug discovery and development took place in the absence of any meaningful knowledge of the underlying biological mechanisms, but rather occurred via serendipity coupled with careful observation. First generation compounds were consumed in vast amounts and the nascent pharmaceutical industry became immensely wealthy as the need for major and minor tranquillisers prevailed.