J&J's Spravato becomes a blockbuster depression drug

8 articles · Updated · Bloomberg · Apr 30

The ketamine-derived nasal spray generated $1.7 billion, reached more than 7,000 certified sites in 2026 and is forecast by Wall Street to bring in about $2.3 billion this year.
J&J overcame a slow 2019 launch by helping clinics build monitored treatment programs, secure billing codes and improve insurance reimbursement for hours-long supervised dosing sessions.
Its model is now seen as a template for psychedelic-adjacent therapies, though doctors still question effectiveness for some patients and clinics continue to face insurance denials and operational hurdles.

Is Spravato’s high-cost, clinic-based model the only viable future for psychedelic medicine, or could a more accessible path exist?

Beyond its billion-dollar success, what are the hidden long-term risks of rewiring the brain with a ketamine-based spray?

As psychedelic therapies are fast-tracked, are we prioritizing rapid access over the evidence needed for long-term patient safety?