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MM120 is just a patented LSD. So its just a brandname LSD.

Exactly. The medical cannabis industry has been doing this right from the start. Thankfully they do tell you what strains they got their cultivar from, though.

Near as I can tell, they are essentially synonyms, but in practice "derivate" is "a product obtained chemically from a raw material", while "derivative" tends to be used in the mathematical or financial senses.

Kinda like orient and orientate.

Maybe there's a word for this class of variations. Or variants?

Or variates?

If there isn't already, "variantate" seems appropriate to mean "inappropriately adding the suffix -ate".

They can control the supply and make more money off of it. And you can pay lobbiests to make sure the original LSD stays illegal.