Peptide Legalization Sparks Investment Opportunities for Firms

WHO:

Forbes - Shaun Noorian, founder and CEO of Empower Pharmacy; Scott Brunner, CEO of the Alliance for Pharmacy Compounding; Health and Human Services Secretary Robert F. Kennedy Jr.; Mike Walker, cofounder and president of Strive Pharmacy; Michelle Davey, founder and CEO of Wheel; Peter Kolchinsky, managing partner of RA Capital Management; Jon Lensing, CEO of OpenLoop; Gary Brecka, podcaster and wellness influencer; Dr. Anant Vinjamoori, chief medical officer of Hims & Hers; Paul Knoepfler, cell and molecular biologist at UC Davis.

WHAT:

Forbes - The FDA panel is considering legal production of seven peptides.

Forbes - The illicit peptide market is estimated to be worth $3 billion.

Forbes - The FDA meeting will last two days.

Forbes - Another five peptides are slated for consideration in 2027.

Forbes - Empower Pharmacy's revenue from peptides could eventually reach "several hundred million dollars."

NPR - The FDA's committee is tasked with reviewing data for specific conditions, including migraines, ulcerative colitis, opioid withdrawal, and wound healing.

WHERE:

Forbes - The FDA panel meeting is taking place at its Maryland campus.

Forbes - Empower Pharmacy is based in Houston, Texas.

Forbes - Strive Pharmacy is located in Utah and has a facility in Alachua, Florida.

Forbes - Hims & Hers is a telehealth company with a market cap of $7.6 billion.

WHEN:

Forbes - The FDA panel meeting starts on a Thursday and lasts until Friday afternoon.

Forbes - Strive Pharmacy's new headquarters and advanced compounding plant in Mesa, Arizona, is expected to open in early 2027.

Forbes - Hims & Hers acquired a compounding pharmacy in September 2024.

WHY:

Forbes - Proponents argue that legalizing peptides would reduce risks associated with the gray market.

NPR - The current restrictions on compounding have fueled a gray market of overseas suppliers.

NPR - Advocates argue that the demand for peptides has not diminished despite regulatory restrictions.

HOW:

Forbes - Compounding pharmacies can create drugs specifically for individual patients.

Forbes - Empower Pharmacy is preparing by conducting R&D to ensure stable formulations for peptides.

NPR - The FDA's internal scientists have recommended against allowing compounding pharmacies to produce the peptides under consideration.

(UPDATED July 22, 2026 19:28 UTC)

The FDA panel is currently meeting at its Maryland campus to discuss the potential legal production of seven peptides, with the meeting expected to last two days. This comes amid a booming illicit peptide market valued at $3 billion, as advocates argue that legalizing these compounds could mitigate risks associated with gray market suppliers. The committee is reviewing data related to various medical conditions, including migraines and opioid withdrawal, and another five peptides are set for consideration in 2027.