The U.S. Food and Drug Administration is about to make a decision that could open a massive new revenue stream for telehealth companies. On July 23 and 24, the agency’s compounding advisory committee will review seven peptides — tiny protein fragments that users inject for faster recovery, more energy, or anti-aging effects — for possible approval to be legally mixed by specialty pharmacies.
According to Fortune, this vote could hand telehealth companies the same playbook that turned “cheap Ozempic” into a multibillion-dollar shadow industry just two years ago. Investment bank Leerink Partners projects a $2.2 billion market for telehealth companies based on sales of the first seven peptides under review.
What Peptides Are Under Review
The FDA committee will specifically look at BPC-157 and TB-500 — two injectables that have become popular among biohackers and wellness enthusiasts. These peptides are not currently FDA-approved for general medical use, but they are widely available on the grey market. Users claim they help with tissue repair, inflammation reduction, and overall vitality.
According to Fortune, even Robert F. Kennedy Jr. has been known to talk about these injectables, signaling how mainstream peptide use has become among health-conscious consumers.
The Telehealth Opportunity
If the FDA approves these peptides for compounding pharmacy production, telehealth companies like Hims and Ro could quickly add them to their product lines. The model would mirror what happened with compounded GLP-1 drugs — where patients get prescriptions online and receive injectable medications by mail from specialty pharmacies.
According to Barron’s, Leerink Partners sees a $2.2 billion market for telehealth companies based on sales projections of the first seven peptides. This would represent a significant new revenue stream for an industry already riding the GLP-1 wave.
Our Take: A Market Waiting to Explode
In our view, this FDA vote is one of the most important regulatory decisions for telehealth since the GLP-1 boom. The demand for wellness peptides is already huge — people are buying them on the grey market without any quality control. If the FDA gives compounding pharmacies the green light, it will legitimize the market and make these products safer and more accessible.
But there are risks. Peptides are not well-studied for long-term use, and the FDA will need to balance consumer demand with safety. Telehealth companies that move too fast could face regulatory backlash. Still, the $2.2 billion projection from Leerink Partners suggests investors are already betting on approval. For consumers, this could mean cheaper, safer access to peptides — but only if the FDA gets the regulatory framework right.
