Johnson & Johnson's Spravato sales growth fuels psychedelics' commercial viability in mental health treatment.

Johnson & Johnson's esketamine nasal spray Spravato sales grew 8% QoQ to $320mln, with a $1.3bln run rate tracking in line with its $1bln to $5bln peak sales guidance. Analysts at Jefferies see this as evidence that psychedelics can generate meaningful sales in hard-to-treat CNS disorders, supporting the viability of psychedelics in mental health. They believe that existing players like atai Life Sciences will leverage J&J's infrastructure to facilitate adoption of future psychedelics.