RFK Jr.’s peptide policy could give Hims & Hers a boost as the GLP-1 business changes
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As its high-margin compounded GLP-1 business continues to evolve, Health for him and her could find a new opportunity in peptides.
Shares of the telehealth company jumped Thursday after Health and Human Services Secretary Robert F. Kennedy Jr. announced Wednesday that the FDA plans to convene a meeting of the Pharmacy Compounding Advisory Committee to review peptides for possible inclusion on the 503A bulk list, a designation that allows drugs to be compounded on an individual prescription basis rather than mass-produced.
For Hims, the bigger story is how expanding peptide compounding could open up new revenue streams as it steers members toward brand-name drugs rather than more profitable compounded GLP-1 drugs. The telehealth company has been building a peptide business for years.
Peptides are short chains of amino acids – think of them as small building blocks of proteins – that are being researched for a wide range of health and wellness applications. They are controversial because there is limited scientific evidence regarding their long-term safety and effectiveness and their production remains largely unregulated.
Hims & Hers made a significant move into this space in February 2025 when it acquired a peptide facility in California. At the time, CEO Andrew Dudum described the demand for peptides as “future-focused innovation.”
“Many use cases still need to be introduced,” Dudum said. “Peptide innovation is at the forefront of so many categories that we are excited to offer.”
Following Kennedy’s announcement on Wednesday, Dr. Hims Chief Medical Officer Patrick Carroll described the news as a move away from the “gray market” and said the goal is to integrate peptide therapy into regulated, physician-led care.
“Our medical team believes that certain peptide therapies have significant potential to help Americans live healthier lives, and we are actively evaluating how we can expand access in a way that is consistent with FDA guidelines,” Carroll said.
Leerink Partners called the news that the FDA will review peptides for the compounding list a positive outcome that could provide Hims with a clearer regulatory path to scaling peptide therapies. Still, the company said it will take time for peptides to boost the company’s bottom line.
“This wouldn’t be immediately reflected in sales, but would obviously be a growth path that HIMS would pursue aggressively,” said Michael Cherny, an analyst at Leerink, who rates the stock a hold equivalent and has a $25 price target. The stock was trading at around $26 per share on Thursday.
Currently, the opportunity is still early and clinical evidence for many peptide therapies is still limited.
Of the dozens of peptides Kennedy listed for consideration on the compounded mass list, one – MK-677 – is often treated as an illegal drug when sold for human consumption. Growth hormone has also been banned by the World Anti-Doping Agency.
Other peptides on the list, such as GHK-Cu and Semax, which are used for cosmetic or cognitive enhancement, are generally considered less controversial but still lack solid scientific support.
Kennedy — who has supported many medical treatments and food options beyond those supported by mainstream science — was asked about his plans to expand peptide therapies during a House Ways and Means Committee hearing on Thursday.
“Peptides should not be regulated,” Kennedy said, arguing that the Biden administration has restricted the use of peptides because of safety concerns that he believes are unfounded.
The FDA process is just beginning and the July meeting will be advisory only, so no immediate change is expected.
Still, investors are already focused on replacing GLP-1 as a growth driver for Hims, and peptides are emerging as one of the clearest candidates so far.
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