From a libertarian viewpoint, drugs should be legalized. Hard drugs, such as cocaine, morphine, opium, etc. were OTC in the late 1800's and early 1900's, without the criminal problem that is inherent in the Prohibition environment.
While I advocate the legalization, I do not advocate the use of psychoactive drugs for escapist reasons. I do not agree with the people who use very addictive drugs for partying purposes and then utilize them chronically to acheive a "high", which is a waste of man's ultimate ability, his reasoning faculties (do not attempt to argue that some drugs open creative centers in the brain or some other unsupportable garbage).
I agree with legalization, yet I do not know how these drugs could be introduced legally into the public, since the trial lawyers would be ready to pounce on the first case of overdose and sue the manufacturer out of existence.