"These defendants took advantage of Mr. Perry's addiction issues to enrich themselves," said U.S. Attorney Martin Estrada at press conference Thursday.
MORE: 5, including 2 doctors, charged in Matthew Perry's death investigation; 2 plead not guilty
"I mean, it does contribute to the stigma that we've been trying to get over for a very long time," said Dustin Robinson, managing principal of Iter Investments, a venture capital firm specializing in hallucinogenic drug treatments.
"The reality is the stuff we invest in and the stuff we are interested in has absolutely nothing to do with the way Matthew Perry was using these drugs. It is the wild, wild west in the sense that nobody really knows the extent of the use," said Boris Dov Heifets, Ph.D., associate professor of Anesthesiology at Stanford University.
Approved by the FDA as short-acting anesthetic, Ketamine is increasingly being used to treat depression, anxiety, and pain.
"I'm glad that there's some investigating action going on into what was extremely likely to be an inappropriate and irresponsible use of a prescription. And non-prescribed Ketamine," said Dr. Dov Heifets.
MORE: What to know about ketamine therapy after Matthew Perry's cause of death announced
Doctors can legally prescribe ketamine, but it hasn't been approved by the FDA for mental health treatment - meaning doctors are making up their own protocols.
"This is emblematic, I think, of a larger trend that since COVID, certain restrictions have been eased, explained Dr. Dov Heifets. "You know, a number of telehealth-based ketamine companies have jumped into the fray and said we're going to make this really easy."
And while those relaxed regulations can be dangerous, the experts say the pandemic also produced some positives for people struggling to access effective treatment.
"A lot of people can benefit that way," said Dr. Dov Heifets. "Ketamine is a safe drug. It's a safe drug when delivered in certain doses at a certain frequency," he said, while also warning it can be misused.
"Which is why we're talking today, because a very high-profile death occurred from someone who was both getting a legal prescription and also it seemed they were very likely getting it outside on the grey black market," added Dr. Dov Heifets.
TAKE ACTION: Get help with addiction, substance abuse issues