Psychiatric drug discovery is in a state of flux in 2013. Significant reductions in investment across large pharmaceutical companies combined with shifts in academic funding have led to a necessary new world of opportunity based around collaborations, partnerships and business operating models. These new modes of research and drug development will only bring future success by learning from past failures and we will highlight some areas for consideration. Finally, in this apparent era of doom there are some success stories to cheer, which suggest that there will be future advances in treatment for the large patient population whose lives are spent in the shadow of mental illness.

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