The Great Peptide Cash Grab Has Begun

Kate KnibbsBusinessJul 21, 2026 9:45 AMThe Great Peptide Cash Grab Has BegunThe FDA could decide whether to loosen rules around peptide production this week. Some telehealth players are already seeing dollar signs.Photo-Illustration: Jobanny Cabrera; Getty ImagesCommentLoaderSave StorySave this storyCommentLoaderSave StorySave this storyHas anyone tried to sell you peptides yet? If not, they probably will soon. Once a niche interest among bodybuilders and biohackers, peptides are an increasingly popular class of substance hyped by both fringe influencers and the current US secretary of Health and Human Services.Earlier this year, Robert F. Kennedy Jr. told the podcaster Joe Rogan that the government intended to loosen restrictions on peptide production. This week, it could finally happen: On July 23 and 24, the Food and Drug Administration will discuss whether to reclassify a group of peptides so that pharmacies can legally make custom mixes, a process known as compounding. The move would reverse a decision made in 2023 by the Biden administration, which barred certain peptides from being compounded.Although career scientists at the agency have recommended against it, many industry insiders tell WIRED they believe the FDA will approve reclassification anyway, since the committee put together to do the assessment includes peptide boosters. Some players in the telehealth world are already operating under the assumption that the floodgates will soon open. “We’re getting everything ready to go,” says Myra Ahmad, the chief executive of the telehealth platform Mochi Health, which originally focused on GLP-1 medications. “We have pharmacies that have done all their safety testing stuff; they’re putting pricing together.”Some of the largest telehealth companies have looked forward to this moment for over a year. Virtual health care juggernaut Hims & Hers Health purchased a peptide manufacturing facility in February 2025 and is developing clinical protocols for peptides, according to its chief medical officer, Anant Vinjamoori, who is slated to testify at the FDA hearing. Joshua Fritzler, president of the compounding pharmacy Olympia Pharmaceuticals, says the company has been preparing in advance of the anticipated changes, “spending a lot of money to create these formulas” to be ready if the FDA gives the green light.“There’s an understanding in the industry that something big is happening,” he says.The GLP-1 boom warmed people up to the idea of injecting medications at home and proved to be a cash cow for pharmacies and virtual clinics. Now, though, many of these companies are eager to expand their horizons. Cole Thomas, the director of sales and operations at the pharmacy marketing and technology platform RxConnexion, says that some of the company’s compounding pharmacy clients are testing peptides that are likely to be popular. One such variety, BPC-157, is touted as a healing compound and is one-half of the combination known as the “Wolverine stack.” (BPC stands for “body protection compound.”)Cameron Bravo, a research scientist at the biotech firm Sapho Bio, says his company has been approached about testing a variety of peptides already, too. (Mochi Health is a client.) Sapho Bio runs tests to “validate” formulas that clients bring, ensuring the mixtures are uncontaminated and properly sealed. So far, it has tested BPC-157 as well as more obscure offerings like MOTS-c, which is hyped as “exercise in a vial” by evangelists. Some of the pharmacies the company works with are testing multiple products, at significant cost. “They're probably investing something like $100,000 into these before they're even fully out yet,” he says.Even if this week’s meeting goes exactly how peptide boosters want it to go, with the committee approving all of the substances up for discussion, that won’t lead to an immediate green light for sellers. The next step involves a review period, during which the FDA will propose rules and the public will be abl