On Thursday, the U.S. Food and Drug Administration approved COBENFY, an oral medication that marks the first new class of drugs for schizophrenia in more than 30 years.

People with schizophrenia will soon have a new treatment option after the FDA approved its first new treatment for the mental illness in more than 30 years.

Despite billions of taxpayer dollars spent on mental illness research, Cobenfy was developed by a private biopharmaceutical company.