WEBVTT - Caveat Injector

0:00:00.960 --> 0:00:07.160
<v Speaker 1>Caveat injector there everywhere, diy peptides for losing, weight, building,

0:00:07.240 --> 0:00:12.440
<v Speaker 1>muscle slowing, aging, getting tan, and general looksmaxing Inside a

0:00:12.520 --> 0:00:17.759
<v Speaker 1>legally ambiguous and medically dubious global supply chain by Amanda Mole,

0:00:17.880 --> 0:00:22.000
<v Speaker 1>Madison Muller, and Ashley Furlong, Read aloud by Mark Leidorf.

0:00:23.720 --> 0:00:27.000
<v Speaker 1>In an industrial park a half hour outside Prague, Peter

0:00:27.160 --> 0:00:29.800
<v Speaker 1>Magic finds himself at the center of a gold rush.

0:00:30.320 --> 0:00:32.879
<v Speaker 1>In the fifteen years since he started his business as

0:00:32.880 --> 0:00:36.639
<v Speaker 1>a teenager in his parents' garage in Slovakia, it's developed

0:00:36.640 --> 0:00:39.600
<v Speaker 1>into a fast growing company with almost nine figures in

0:00:39.680 --> 0:00:44.280
<v Speaker 1>annual revenue and an international clientele. He isn't training a

0:00:44.320 --> 0:00:48.280
<v Speaker 1>new kind of agentic artificial intelligence that replaces your employer's

0:00:48.400 --> 0:00:53.239
<v Speaker 1>legal department, or building the next online prediction market. His company,

0:00:53.360 --> 0:00:57.720
<v Speaker 1>Janoshik Analytical, does purity and sterility testing for black market

0:00:57.800 --> 0:01:02.080
<v Speaker 1>anabolic steroids, an obscure niche Magic found during his own

0:01:02.120 --> 0:01:06.160
<v Speaker 1>foray into weightlifting. His search for other lifters online took

0:01:06.240 --> 0:01:08.800
<v Speaker 1>him to four chan and read it, where many talked

0:01:08.800 --> 0:01:12.920
<v Speaker 1>freely about their pharmaceutical experimentation, but fretted about what might

0:01:13.000 --> 0:01:17.119
<v Speaker 1>be in their drugs. Magic figured testing steroid samples couldn't

0:01:17.120 --> 0:01:20.040
<v Speaker 1>be that hard. It took a couple of years actually

0:01:20.080 --> 0:01:23.920
<v Speaker 1>before we got all the processes perfected, because obviously, legally

0:01:24.000 --> 0:01:25.000
<v Speaker 1>this is pretty.

0:01:24.680 --> 0:01:25.840
<v Speaker 2>Thin ice, he says.

0:01:26.720 --> 0:01:31.360
<v Speaker 1>Among connoisseurs, his testing has become the gold standard. Outside

0:01:31.400 --> 0:01:34.360
<v Speaker 1>in his labs parking lot. He has the shimmering purple

0:01:34.400 --> 0:01:38.720
<v Speaker 1>Ferrari to prove it. As it turns out, Magic's reputation

0:01:38.840 --> 0:01:43.240
<v Speaker 1>for running a legitimate business evaluating illicit substances has positioned

0:01:43.319 --> 0:01:46.560
<v Speaker 1>him perfectly for a new black market. The global trade

0:01:46.600 --> 0:01:51.360
<v Speaker 1>in peptides. Injectable peptides are a loose cohort of amino

0:01:51.400 --> 0:01:54.360
<v Speaker 1>acid based drugs that bond to receptors in the body

0:01:54.720 --> 0:01:57.920
<v Speaker 1>to toggle various physiological processes.

0:01:57.320 --> 0:01:58.120
<v Speaker 2>On and off.

0:01:58.600 --> 0:02:02.600
<v Speaker 1>Some peptides are legal and widely used, including insulin and

0:02:02.800 --> 0:02:07.160
<v Speaker 1>GLP one drugs. The pes for peptide in the early

0:02:07.240 --> 0:02:10.800
<v Speaker 1>twenty twenties, as buzz about their weight loss capabilities moved

0:02:10.800 --> 0:02:15.239
<v Speaker 1>beyond diabetics in doctor's offices, Ozembic and other GLP ones

0:02:15.320 --> 0:02:20.200
<v Speaker 1>quickly grew popular among fringy fitness buffs, lookxmaxers, and Silicon

0:02:20.320 --> 0:02:23.520
<v Speaker 1>Valley types to get weight loss drugs well outside of

0:02:23.560 --> 0:02:24.760
<v Speaker 1>prescribing guidelines.

0:02:25.040 --> 0:02:26.840
<v Speaker 2>Some turned to lenient.

0:02:26.560 --> 0:02:30.480
<v Speaker 1>Telehealth providers and longevity clinics that were happy to welcome

0:02:30.520 --> 0:02:33.880
<v Speaker 1>off label patients, the kind of clientele who are in

0:02:33.919 --> 0:02:38.000
<v Speaker 1>turn happy to pay in cash. Exhilarated by the ease

0:02:38.080 --> 0:02:41.200
<v Speaker 1>with which GLP ones help them get shredded, some of

0:02:41.240 --> 0:02:44.680
<v Speaker 1>these users wanted to experiment further with the help of

0:02:44.760 --> 0:02:49.440
<v Speaker 1>unconventional medical practitioners. These enhancement enthusiasts found more than a

0:02:49.480 --> 0:02:53.120
<v Speaker 1>dozen other kinds of peptides. Most of these drugs weren't

0:02:53.120 --> 0:02:56.040
<v Speaker 1>approved by the FDA and absent from the list of

0:02:56.120 --> 0:03:00.239
<v Speaker 1>drug ingredients allowed to be used in compounding pharmacies, state

0:03:00.280 --> 0:03:03.840
<v Speaker 1>regulated facilities that fill many gaps in the country's pharmaceutical

0:03:03.880 --> 0:03:08.480
<v Speaker 1>supply by mixing customized medications. Some of these substances had

0:03:08.520 --> 0:03:11.960
<v Speaker 1>been developed by traditional farmer companies but abandoned because of

0:03:12.080 --> 0:03:16.440
<v Speaker 1>muddled efficacy results or lack of projected profitability. A few

0:03:16.600 --> 0:03:19.639
<v Speaker 1>had hardly been tested in humans, and the potential long

0:03:19.720 --> 0:03:22.519
<v Speaker 1>term side effects and safety of any of these peptides

0:03:22.880 --> 0:03:27.520
<v Speaker 1>remain unknown. Their names consist of cryptic jumbles of letters

0:03:27.880 --> 0:03:33.040
<v Speaker 1>BPC one F seven, CJC twelve ninety five, TB five

0:03:33.160 --> 0:03:37.320
<v Speaker 1>hundred and promise all kinds of benefits. Want to sleep better,

0:03:37.560 --> 0:03:41.280
<v Speaker 1>there's a peptide for that. How about helier tendinitis faster?

0:03:41.520 --> 0:03:45.280
<v Speaker 1>Or lock in at work? There are peptides for that too,

0:03:45.560 --> 0:03:49.360
<v Speaker 1>Need a tan sure. Then there are the stacks such

0:03:49.360 --> 0:03:54.840
<v Speaker 1>as Wolverine, Klow, and Phoenix, combinations of peptides meant to

0:03:54.880 --> 0:03:59.080
<v Speaker 1>max out user's results. Although most compounders stayed out of

0:03:59.080 --> 0:04:02.040
<v Speaker 1>the peptide business, some were willing to fill prescriptions and

0:04:02.120 --> 0:04:05.800
<v Speaker 1>risk the FDA warning letters that generally constitute the first

0:04:05.840 --> 0:04:10.520
<v Speaker 1>phase of enforcement. As these peptides became mainstays of online

0:04:10.600 --> 0:04:14.040
<v Speaker 1>chatter among Jim Bros and biohackers, and as their beliefs

0:04:14.040 --> 0:04:18.200
<v Speaker 1>about peptides found even greater purchase among influential podcasters like

0:04:18.320 --> 0:04:22.159
<v Speaker 1>Joe Rogan and Andrew Huberman, their popularity began to spread,

0:04:22.480 --> 0:04:26.960
<v Speaker 1>alarming regulators. In August twenty twenty three, Jennifer Aniston told

0:04:26.960 --> 0:04:29.920
<v Speaker 1>The Wall Street Journal that she swore by weekly peptide

0:04:29.920 --> 0:04:33.479
<v Speaker 1>injections as part of her anti aging regimen. Weeks later,

0:04:33.720 --> 0:04:36.479
<v Speaker 1>the Biden era of Food and Drug Administration changed the

0:04:36.520 --> 0:04:41.960
<v Speaker 1>regulatory status of nineteen peptide drugs, effectively banning compounding pharmacies

0:04:42.000 --> 0:04:45.279
<v Speaker 1>from producing them even with a valid prescription because of

0:04:45.279 --> 0:04:49.360
<v Speaker 1>safety concerns. Filling these drugs was never really legal given

0:04:49.360 --> 0:04:52.159
<v Speaker 1>their absence from the permitted list, but the change sent

0:04:52.200 --> 0:04:56.599
<v Speaker 1>an explicit message to compounders about regulator's views. Many of

0:04:56.600 --> 0:04:59.240
<v Speaker 1>the pharmacies that had been willing to test the boundaries

0:04:59.400 --> 0:05:01.320
<v Speaker 1>took it as a wa warning shot and decided to

0:05:01.400 --> 0:05:06.440
<v Speaker 1>drop the drugs entirely. Undeterred, peptide users simply went underground,

0:05:06.680 --> 0:05:10.120
<v Speaker 1>where they found groups of fellow travelers on discord or telegram,

0:05:10.440 --> 0:05:12.520
<v Speaker 1>or they formed groups of their own to track down

0:05:12.520 --> 0:05:15.720
<v Speaker 1>the drugs they wanted to get them. These groups began

0:05:15.760 --> 0:05:18.839
<v Speaker 1>to go straight to the source, ordering active ingredients in

0:05:18.960 --> 0:05:23.040
<v Speaker 1>bulk from Chinese pharmaceutical manufacturers through wee chat, WhatsApp or

0:05:23.040 --> 0:05:27.839
<v Speaker 1>other apps and paying in cryptocurrency. Suppliers then shipped the

0:05:27.880 --> 0:05:32.120
<v Speaker 1>active pharmaceutical ingredients or API to buyers in little glass

0:05:32.200 --> 0:05:35.400
<v Speaker 1>vials of white powder that can be reconstituted into an

0:05:35.400 --> 0:05:39.279
<v Speaker 1>injectable liquid with a special type of sterile water. Labs

0:05:39.279 --> 0:05:42.719
<v Speaker 1>such as Yanishik come in. When those vials arrived Stateside,

0:05:43.080 --> 0:05:45.200
<v Speaker 1>buyers sent off a few to make sure they got

0:05:45.200 --> 0:05:47.760
<v Speaker 1>what they paid for before divvying up the goods among

0:05:47.839 --> 0:05:51.320
<v Speaker 1>group members. It wasn't long before some of these informal

0:05:51.400 --> 0:05:55.400
<v Speaker 1>sourcing operations began to join a few existing peptide retailers

0:05:55.440 --> 0:05:58.440
<v Speaker 1>in opening themselves to the public, which was becoming more

0:05:58.440 --> 0:06:01.680
<v Speaker 1>peptide curious by the day. In spite of the FDA's

0:06:01.760 --> 0:06:06.400
<v Speaker 1>safety warnings, importers expanded their orders and built ordinary looking

0:06:06.440 --> 0:06:10.760
<v Speaker 1>e commerce sites, complete with advertising budgets and influencer partnerships.

0:06:11.279 --> 0:06:14.080
<v Speaker 1>They believed they'd found a regulatory loophole that would allow

0:06:14.120 --> 0:06:16.320
<v Speaker 1>them to sell to anyone with a credit card and

0:06:16.360 --> 0:06:21.200
<v Speaker 1>sufficient risk tolerance. Like most prescription drugs, peptides aren't controlled

0:06:21.240 --> 0:06:25.760
<v Speaker 1>substances that are inherently illegal to possess, but federal regulations

0:06:25.760 --> 0:06:29.159
<v Speaker 1>govern what constitutes permissible trade depending.

0:06:28.720 --> 0:06:30.160
<v Speaker 2>Who the buyers and sellers are.

0:06:30.800 --> 0:06:33.560
<v Speaker 1>In particular, the sale of the raw materials used to

0:06:33.600 --> 0:06:36.520
<v Speaker 1>make them isn't nearly as closely scrutinized as the sale

0:06:36.520 --> 0:06:39.839
<v Speaker 1>of finished prescription drugs. As long as those raw materials

0:06:39.839 --> 0:06:42.640
<v Speaker 1>are destined for use in a lab for research instead

0:06:42.680 --> 0:06:46.800
<v Speaker 1>of in humans and animals, Sellers slapped for research use

0:06:46.880 --> 0:06:50.160
<v Speaker 1>only on their websites and began filling orders for sometimes

0:06:50.279 --> 0:06:54.080
<v Speaker 1>dozens of kinds of APIs, not only the controversial ones,

0:06:54.320 --> 0:06:57.240
<v Speaker 1>but also those found in ozempic and zep bound, which

0:06:57.240 --> 0:06:59.640
<v Speaker 1>appealed to millions of consumers.

0:06:59.000 --> 0:07:00.479
<v Speaker 2>Desperate for the price use drugs.

0:07:01.120 --> 0:07:03.479
<v Speaker 1>There's still really no way to know that your product

0:07:03.520 --> 0:07:06.320
<v Speaker 1>is what even the testing company says it is unless

0:07:06.320 --> 0:07:09.840
<v Speaker 1>you take it yourself, says a founder of Compound Sciences,

0:07:10.120 --> 0:07:12.520
<v Speaker 1>a peptide site in Utah that's been around for less

0:07:12.560 --> 0:07:14.560
<v Speaker 1>than a year, who asked not to be named so

0:07:14.600 --> 0:07:18.480
<v Speaker 1>they could speak candidly. And you know, our families are

0:07:18.520 --> 0:07:22.040
<v Speaker 1>on all of this product. He maintains that his business

0:07:22.080 --> 0:07:26.000
<v Speaker 1>is careful to adhere to federal regulations around allowable marketing

0:07:26.040 --> 0:07:29.440
<v Speaker 1>and packaging practices for research use API, which is where

0:07:29.480 --> 0:07:33.440
<v Speaker 1>most sellers air. Interest in these substances has spread to

0:07:33.480 --> 0:07:37.400
<v Speaker 1>the mainstream, and peptides are now commonly discussed online as

0:07:37.400 --> 0:07:41.600
<v Speaker 1>treatment options for sagging skin and arthritis, pitched to menopausal

0:07:41.640 --> 0:07:44.560
<v Speaker 1>suburban moms and offered to clients at a growing number

0:07:44.640 --> 0:07:47.720
<v Speaker 1>of medspas as a casual add on to a botox

0:07:47.800 --> 0:07:52.000
<v Speaker 1>touch up. Black markets, that is, sustained trade in goods

0:07:52.000 --> 0:07:54.880
<v Speaker 1>that violate the law in some way are by nature

0:07:54.920 --> 0:07:58.640
<v Speaker 1>difficult to measure, but there's plenty of evidence of increasing demand.

0:07:59.360 --> 0:08:02.440
<v Speaker 1>There are so many many peptide sellers sending Yanoshik samples

0:08:02.440 --> 0:08:05.040
<v Speaker 1>that from twenty twenty three to twenty twenty five, the

0:08:05.120 --> 0:08:08.800
<v Speaker 1>volume of peptide tests the company processed increased more than

0:08:08.840 --> 0:08:12.960
<v Speaker 1>twelve hundred percent, according to data it shared with Bloomberg BusinessWeek,

0:08:13.440 --> 0:08:16.160
<v Speaker 1>during the first nine months of twenty twenty five, US

0:08:16.240 --> 0:08:19.240
<v Speaker 1>Customs and Border Protection logged three hundred and twenty eight

0:08:19.320 --> 0:08:24.040
<v Speaker 1>million dollars in active pharmaceutical ingredient imports for peptides, twice

0:08:24.080 --> 0:08:26.720
<v Speaker 1>the amount imported during the same period the previous year.

0:08:27.040 --> 0:08:30.520
<v Speaker 1>According to The New York Times, this included both material

0:08:30.640 --> 0:08:33.400
<v Speaker 1>making its way to compound pharmacies for illegal use in

0:08:33.440 --> 0:08:38.640
<v Speaker 1>medications and raw material headed to mercier destinations, but that

0:08:38.760 --> 0:08:42.079
<v Speaker 1>number is likely just a fraction of the total. Importers

0:08:42.120 --> 0:08:46.920
<v Speaker 1>increasingly employ more evasive maneuvers to skirt detection by customs officials,

0:08:47.480 --> 0:08:50.000
<v Speaker 1>and that logged dollar amount is only the value of

0:08:50.040 --> 0:08:53.680
<v Speaker 1>the imported raw material, which costs most large importers a

0:08:53.720 --> 0:08:56.640
<v Speaker 1>few dollars per file, compared with the fifty dollars to

0:08:56.679 --> 0:09:00.200
<v Speaker 1>three hundred dollars consumers are paying. The Compound signed Ens

0:09:00.360 --> 0:09:03.400
<v Speaker 1>co founder says his company is a small business, bringing

0:09:03.400 --> 0:09:05.960
<v Speaker 1>in about one hundred thousand dollars in revenue per month,

0:09:06.360 --> 0:09:09.200
<v Speaker 1>with about half of that being profit that's.

0:09:09.080 --> 0:09:10.640
<v Speaker 2>Purely from personal referrals.

0:09:10.679 --> 0:09:14.920
<v Speaker 1>He says Compound Sciences doesn't buy ads or work with influencers,

0:09:15.440 --> 0:09:18.160
<v Speaker 1>noting that he knows of larger operations that he believes

0:09:18.200 --> 0:09:20.520
<v Speaker 1>bring in as much as two million dollars per month

0:09:20.559 --> 0:09:24.280
<v Speaker 1>in gross sales. Investors within the industry say the black

0:09:24.320 --> 0:09:28.439
<v Speaker 1>market is anywhere from one to three billion dollars. Now,

0:09:28.559 --> 0:09:32.520
<v Speaker 1>this already booming economy is preparing to emerge from the shadows.

0:09:33.040 --> 0:09:36.160
<v Speaker 1>Under instruction from US Secretary of Health and Human Services

0:09:36.480 --> 0:09:40.560
<v Speaker 1>and self professed peptide fan Robert F. Kennedy Junior, an

0:09:40.679 --> 0:09:44.240
<v Speaker 1>FDA committee is expected to recommend that seven peptides be

0:09:44.280 --> 0:09:47.440
<v Speaker 1>added to the list of substances available for legal use

0:09:47.480 --> 0:09:50.960
<v Speaker 1>in compounding pharmacies, with another five to be considered for

0:09:51.000 --> 0:09:54.560
<v Speaker 1>inclusion by early twenty twenty seven. Such a move would

0:09:54.559 --> 0:09:57.800
<v Speaker 1>help clear the way for compounding pharmacies to fill prescriptions

0:09:57.800 --> 0:10:00.800
<v Speaker 1>of these medications, which, as Kennedy said in an ex

0:10:00.880 --> 0:10:04.280
<v Speaker 1>post in April, would divert demand away from a dangerous

0:10:04.320 --> 0:10:08.040
<v Speaker 1>black market that puts Americans at risk. It would also

0:10:08.200 --> 0:10:11.440
<v Speaker 1>make a number of hyped peptides that lack rigorous scientific

0:10:11.480 --> 0:10:13.959
<v Speaker 1>backing and that could have side effects.

0:10:13.559 --> 0:10:15.439
<v Speaker 2>As risky as severe allergic.

0:10:15.040 --> 0:10:18.560
<v Speaker 1>Reactions, liver or kidney damage, and sped up tumor growth

0:10:18.960 --> 0:10:22.720
<v Speaker 1>much more palatable to the buying public. In some ways,

0:10:22.800 --> 0:10:25.560
<v Speaker 1>this would be a shocking turn of events, upending the

0:10:25.559 --> 0:10:28.319
<v Speaker 1>system of drug development and regulation in the US as

0:10:28.320 --> 0:10:30.920
<v Speaker 1>we know it. In other ways, it's just the most

0:10:30.960 --> 0:10:34.120
<v Speaker 1>recent step in the long march toward a fully consumerized

0:10:34.120 --> 0:10:38.400
<v Speaker 1>healthcare system in which customers transact directly with companies marketing

0:10:38.440 --> 0:10:43.520
<v Speaker 1>medications with limited interference from peski doctors and regulators, along

0:10:43.520 --> 0:10:46.600
<v Speaker 1>with entrepreneurs and investors getting in position to cash in.

0:10:47.000 --> 0:10:51.199
<v Speaker 1>Many existing healthcare workers stand to profit from swelling consumer demand.

0:10:51.679 --> 0:10:57.720
<v Speaker 1>Telehealth companies, compounding pharmacies, medspas, testing labs, Chinese drug manufacturers.

0:10:58.520 --> 0:11:02.600
<v Speaker 1>There's one industry, though, that's been caught flat footed, big pharma.

0:11:03.040 --> 0:11:06.120
<v Speaker 1>It's responsible both for the peptide consumer craze and the

0:11:06.160 --> 0:11:09.240
<v Speaker 1>original development of almost all of the drugs now popular

0:11:09.280 --> 0:11:13.320
<v Speaker 1>on the black market. For traditional pharmaceutical companies. The growing

0:11:13.360 --> 0:11:17.239
<v Speaker 1>popularity of these peptides threatens to siphon off potential customers

0:11:17.520 --> 0:11:21.040
<v Speaker 1>and undermined incentives to invest in costly clinical research and

0:11:21.120 --> 0:11:25.920
<v Speaker 1>drug development. Meanwhile, entrepreneurs like Nathan Gravell, the chief executive

0:11:25.960 --> 0:11:30.200
<v Speaker 1>officer of longevity telehealth platform Jevity Health, are getting ready

0:11:30.240 --> 0:11:34.120
<v Speaker 1>to pounce. Our pharmacy partners are already preparing for these

0:11:34.160 --> 0:11:34.760
<v Speaker 1>to be legal.

0:11:35.080 --> 0:11:36.800
<v Speaker 2>The twenty seven year old says.

0:11:37.000 --> 0:11:39.480
<v Speaker 1>They are pre planning for a lot of volume, a

0:11:39.520 --> 0:11:43.839
<v Speaker 1>lot of demand. Christy Turner is not a hobbyist, bodybuilder,

0:11:43.960 --> 0:11:47.199
<v Speaker 1>or an aspiring wellness influencer or someone with a deep

0:11:47.240 --> 0:11:51.920
<v Speaker 1>distrust of mainstream medicine. She's a therapist in suburban Indianapolis

0:11:51.920 --> 0:11:54.679
<v Speaker 1>with a husband and two grown kids, and she's been

0:11:54.679 --> 0:11:57.079
<v Speaker 1>trying to lose weight for as long as she can remember.

0:11:57.720 --> 0:12:00.440
<v Speaker 1>In May twenty twenty four, Turner took her her first

0:12:00.559 --> 0:12:04.640
<v Speaker 1>dose of Eli Lilly's zepbound a GLP one and felt

0:12:04.640 --> 0:12:07.839
<v Speaker 1>her life change within a matter of hours. We were

0:12:07.840 --> 0:12:10.640
<v Speaker 1>going with my son and his fiancee to dinner, and

0:12:10.679 --> 0:12:13.360
<v Speaker 1>that was five hours later, and I realized the food

0:12:13.400 --> 0:12:17.240
<v Speaker 1>noise was gone. She describes it as a magical experience.

0:12:17.280 --> 0:12:21.400
<v Speaker 1>That since helped her lose almost two hundred pounds. Turner

0:12:21.440 --> 0:12:24.800
<v Speaker 1>began taking zepbound after becoming a patient at Mochi Health,

0:12:25.040 --> 0:12:28.120
<v Speaker 1>a San Francisco telehealth startup founded in twenty twenty two,

0:12:28.600 --> 0:12:32.160
<v Speaker 1>a boom time for online medical startups thanks to the pandemic,

0:12:32.200 --> 0:12:36.000
<v Speaker 1>loosened regulations, and a spike in demand for ozempic prescriptions.

0:12:36.520 --> 0:12:40.080
<v Speaker 1>At Mochi, Turner met doctor Laura Rice, a functional medical

0:12:40.080 --> 0:12:45.120
<v Speaker 1>practitioner and osteopath, who prescribed that first dose. Eventually, Turner

0:12:45.200 --> 0:12:48.360
<v Speaker 1>canceled her Mochi subscription and continued to see Rice at

0:12:48.360 --> 0:12:49.840
<v Speaker 1>her independent practice.

0:12:50.240 --> 0:12:52.040
<v Speaker 2>I followed her like a little groupie.

0:12:52.080 --> 0:12:54.760
<v Speaker 1>Turner says, she's the one who's opened the world of

0:12:54.800 --> 0:12:58.959
<v Speaker 1>peptides to me to help with post weight loss skin sagging.

0:12:59.320 --> 0:13:03.959
<v Speaker 1>Rice recommended Turner take ghkcu, a peptide the FDA has

0:13:04.000 --> 0:13:08.000
<v Speaker 1>excluded from compounding in its injectable form. Turner is also

0:13:08.040 --> 0:13:12.840
<v Speaker 1>on glutathione, a legal peptide for its purported immune boosting properties,

0:13:13.200 --> 0:13:15.520
<v Speaker 1>which she first heard about after joining a live stream

0:13:15.559 --> 0:13:17.800
<v Speaker 1>with Rice, who said it was a favorite among her

0:13:17.800 --> 0:13:21.400
<v Speaker 1>other patients. My boys are twenty two and nineteen, and

0:13:21.480 --> 0:13:24.640
<v Speaker 1>they make fun of me. Turner says, they're like you're

0:13:24.640 --> 0:13:28.760
<v Speaker 1>turning into a gem bro. You're getting your stacks. Doctors

0:13:28.760 --> 0:13:32.120
<v Speaker 1>who are willing to recommend restricted peptides to patients are

0:13:32.200 --> 0:13:37.360
<v Speaker 1>usually in specialties functional and integrative medicine, longevity, anti aging

0:13:37.760 --> 0:13:40.400
<v Speaker 1>that offer a broad range of therapies lacking in a

0:13:40.480 --> 0:13:44.600
<v Speaker 1>rigorous scientific backing. Depending on the doctor, that can include

0:13:44.640 --> 0:13:48.959
<v Speaker 1>relatively uncontroversial treatments such as acupuncture or massage, as well

0:13:49.000 --> 0:13:53.920
<v Speaker 1>as more esoteric options like complex protocols of nutritional supplements.

0:13:53.520 --> 0:13:54.720
<v Speaker 2>Or energy healing.

0:13:55.400 --> 0:13:58.480
<v Speaker 1>I got out of mainstream medicine because I was very disillusioned.

0:13:58.679 --> 0:14:02.280
<v Speaker 1>Rice says, though she still commonly prescribes statins and other

0:14:02.400 --> 0:14:06.240
<v Speaker 1>FDA approved medications at her own practice, she has more

0:14:06.280 --> 0:14:09.600
<v Speaker 1>latitude in how much regulatory and scientific risks she's willing

0:14:09.640 --> 0:14:13.280
<v Speaker 1>to offer to patients, including through peptides that aren't supposed

0:14:13.320 --> 0:14:16.720
<v Speaker 1>to be available from compounding pharmacies. She's been able to

0:14:16.760 --> 0:14:20.680
<v Speaker 1>find willing compounders for the forbidden drugs anyway, including for

0:14:20.760 --> 0:14:24.080
<v Speaker 1>Turner's GHKCU, which Rice is able to get from a

0:14:24.080 --> 0:14:28.000
<v Speaker 1>pharmacy in Texas. The potential risk is a little bit scary,

0:14:28.160 --> 0:14:31.560
<v Speaker 1>Turner admits, but she trusts her doctor to keep her safe.

0:14:31.840 --> 0:14:35.120
<v Speaker 1>Doctor Rice does her research. As Rice sees it, her

0:14:35.200 --> 0:14:38.320
<v Speaker 1>role is twofold to help patients in ways she doesn't

0:14:38.320 --> 0:14:41.720
<v Speaker 1>think mainstream medicine can, and to blunt the safety risks

0:14:41.760 --> 0:14:44.440
<v Speaker 1>that some of them are already taking after trying treatments

0:14:44.440 --> 0:14:47.760
<v Speaker 1>they've heard about on Reddit or TikTok. The hard part

0:14:47.800 --> 0:14:50.680
<v Speaker 1>is patients are asking for these medicines because they're seeing

0:14:50.720 --> 0:14:54.120
<v Speaker 1>them online, but as physicians, we're carrying all the risk,

0:14:54.560 --> 0:14:58.040
<v Speaker 1>Rice says, though she and her practice also actively promote

0:14:58.080 --> 0:15:02.840
<v Speaker 1>the use of these drugs online. We're carrying sourcing sterility, potency,

0:15:03.200 --> 0:15:07.440
<v Speaker 1>informed consent, state board scrutiny, malpractice. I mean, it's a

0:15:07.520 --> 0:15:11.400
<v Speaker 1>huge risk, but I've also taken that risk conservatively, and

0:15:11.520 --> 0:15:14.040
<v Speaker 1>probably only a small percentage of my patients are on

0:15:14.120 --> 0:15:17.920
<v Speaker 1>some of the more gray area peptides. She mentions BPC

0:15:18.160 --> 0:15:22.720
<v Speaker 1>one fifty seven for musculoskeletal healing, which is incredibly popular

0:15:22.760 --> 0:15:26.800
<v Speaker 1>online and listed prominently on her practice's website, though it's

0:15:26.840 --> 0:15:30.520
<v Speaker 1>banned from compounding pharmacies and there's almost no clinical research

0:15:30.560 --> 0:15:33.920
<v Speaker 1>showing its safety or efficacy in humans. I've used that

0:15:33.960 --> 0:15:36.960
<v Speaker 1>for patients, she says, is the data there to support

0:15:37.000 --> 0:15:41.960
<v Speaker 1>it absolutely not. Among rice's patients taking BPC one fifty

0:15:41.960 --> 0:15:45.120
<v Speaker 1>seven is Hassan Slayman, a forty five year old roofing

0:15:45.200 --> 0:15:49.400
<v Speaker 1>contractor in Michigan. Slayman didn't know much about peptides, but

0:15:49.480 --> 0:15:51.960
<v Speaker 1>he'd begun to worry about his health after spending much

0:15:52.000 --> 0:15:54.600
<v Speaker 1>of his life ignoring it. He smoked about a pack

0:15:54.640 --> 0:15:57.320
<v Speaker 1>and a half of cigarettes a day, and before construction,

0:15:57.560 --> 0:15:59.920
<v Speaker 1>he'd spent years working as a bouncer and a fourty,

0:16:00.960 --> 0:16:02.960
<v Speaker 1>all of which had taken a toll on his body.

0:16:03.600 --> 0:16:07.240
<v Speaker 1>Nine previous surgeries and other nagging injuries kept him in pain.

0:16:07.840 --> 0:16:10.960
<v Speaker 1>He found RICE through his best friend, whose transformation under

0:16:10.960 --> 0:16:14.680
<v Speaker 1>the doctor he says has been incredible. Slayman's has Rice

0:16:14.720 --> 0:16:18.320
<v Speaker 1>started him on terzepetide, the active ingredient in zep bound,

0:16:18.600 --> 0:16:21.440
<v Speaker 1>as well as BPC one fifty seven, and he felt

0:16:21.440 --> 0:16:24.480
<v Speaker 1>pretty good, even though he hadn't really changed his habits.

0:16:24.520 --> 0:16:27.920
<v Speaker 1>More broadly, Now, he says he's on a stack of

0:16:28.000 --> 0:16:33.359
<v Speaker 1>seven peptides, terzepetide and BPC one fifty seven, plus MOTSC

0:16:33.720 --> 0:16:39.040
<v Speaker 1>for collagen production, glutethione for detoxification, and TB five hundred

0:16:39.240 --> 0:16:44.560
<v Speaker 1>KPV and GHKCU for old injuries and skin quality. With

0:16:44.640 --> 0:16:48.160
<v Speaker 1>the exceptions of terzepetide and gluetethione, all these drugs are

0:16:48.200 --> 0:16:53.040
<v Speaker 1>currently banned from use in injectable medications by US compounding pharmacies.

0:16:53.560 --> 0:16:56.680
<v Speaker 1>Slayman says he feels incredible and his health has improved

0:16:56.800 --> 0:16:59.240
<v Speaker 1>enough to make his work less painful and running after

0:16:59.320 --> 0:17:02.560
<v Speaker 1>his nine year old more fun. He started carrying around

0:17:02.680 --> 0:17:05.480
<v Speaker 1>Rice's business cards so that when people ask what he's doing,

0:17:05.560 --> 0:17:08.080
<v Speaker 1>he can send them her way. He likens it to

0:17:08.119 --> 0:17:11.080
<v Speaker 1>the way he promotes his faith. Why would he gatekeep

0:17:11.160 --> 0:17:14.320
<v Speaker 1>something that can help people? Most people don't even know

0:17:14.359 --> 0:17:18.760
<v Speaker 1>where to start, he says. For many patients, feeling comfortable

0:17:18.800 --> 0:17:23.600
<v Speaker 1>injecting a dubiously sourced medication at home didn't just materialize overnight.

0:17:24.359 --> 0:17:28.400
<v Speaker 1>Often it starts with safe, legal, legitimately prescribed, and extremely

0:17:28.400 --> 0:17:33.639
<v Speaker 1>effective medications. The GLP one's. They pulled the entire peptide

0:17:33.640 --> 0:17:37.200
<v Speaker 1>market up there along with them, says Magic, the Janoshik founder.

0:17:37.680 --> 0:17:40.760
<v Speaker 1>Some twelve percent of Americans are taking a GLP one,

0:17:41.040 --> 0:17:44.920
<v Speaker 1>according to a recent survey from the health policy organization KFF.

0:17:45.359 --> 0:17:48.120
<v Speaker 1>Helping convince millions of users and the many people who've

0:17:48.119 --> 0:17:51.000
<v Speaker 1>watched their transformation that the key to health, beauty, and

0:17:51.080 --> 0:17:55.000
<v Speaker 1>longevity might come in a syringe. The widespread use of

0:17:55.040 --> 0:17:58.919
<v Speaker 1>cosmetic injectables such as botox and lip filler, now easily

0:17:59.000 --> 0:18:02.399
<v Speaker 1>jabbed at a StripMap medspa near you, has bolstered the

0:18:02.400 --> 0:18:05.560
<v Speaker 1>belief that injectable drugs are an easy, low risk option

0:18:05.720 --> 0:18:10.320
<v Speaker 1>providing quick, visible results. Pursuit of GLP ones and the

0:18:10.359 --> 0:18:14.600
<v Speaker 1>insurance denials, high cash prices, shortages, and prescribing restrictions that

0:18:14.640 --> 0:18:17.800
<v Speaker 1>have commonly come with them have also pushed patients toward

0:18:17.880 --> 0:18:21.760
<v Speaker 1>medical practitioners and drug sources they might have previously issued,

0:18:22.359 --> 0:18:25.280
<v Speaker 1>or maybe hadn't even heard of. Patients turned to the

0:18:25.280 --> 0:18:28.199
<v Speaker 1>Internet for guidance on how to find better prices, just

0:18:28.240 --> 0:18:31.120
<v Speaker 1>like they do with everything else they buy. Wherever they

0:18:31.119 --> 0:18:35.919
<v Speaker 1>look for advice, Reddit, Instagram, TikTok, Facebook groups, people are

0:18:35.960 --> 0:18:39.080
<v Speaker 1>ready to guide them to the black market. For patients

0:18:39.080 --> 0:18:41.600
<v Speaker 1>who arrive in these corners of the Internet where cheap

0:18:41.800 --> 0:18:46.040
<v Speaker 1>research chemicals proliferate, it can feel like alice going through

0:18:46.040 --> 0:18:49.480
<v Speaker 1>the looking glass. What if that thirteen hundred dollars medication

0:18:49.600 --> 0:18:53.440
<v Speaker 1>you desperately needed was really cheap all along? Why hadn't

0:18:53.440 --> 0:18:56.639
<v Speaker 1>anyone told you the truth. It's not a coincidence that

0:18:56.680 --> 0:19:00.000
<v Speaker 1>some of the most vocal research peptide users, though far

0:18:59.880 --> 0:19:02.800
<v Speaker 1>from all of them, are vaccine skeptics who think that

0:19:02.960 --> 0:19:07.840
<v Speaker 1>common immunizations lack sufficient scientific evidence. As these users see it,

0:19:08.160 --> 0:19:10.720
<v Speaker 1>vaccines and other things are foisted upon them by the

0:19:10.760 --> 0:19:15.600
<v Speaker 1>government and big pharma in pursuit of control and profit. Peptides, meanwhile,

0:19:15.720 --> 0:19:18.400
<v Speaker 1>are the secret key to free your personal health from

0:19:18.440 --> 0:19:25.080
<v Speaker 1>institutional control. Those buying research grade chemicals effectively become impromptu pharmacists,

0:19:25.320 --> 0:19:28.479
<v Speaker 1>a job most are not qualified to do. They have

0:19:28.520 --> 0:19:32.680
<v Speaker 1>to turn powdered active ingredients into injectable drugs, which requires

0:19:32.760 --> 0:19:37.840
<v Speaker 1>reconstituting them with bacteriostatic water, itself a sterile prescription product

0:19:37.840 --> 0:19:42.119
<v Speaker 1>that customers are sourcing bootleg versions of online. Powders are

0:19:42.160 --> 0:19:46.000
<v Speaker 1>sold by weight, but dosages are measured in volume. That

0:19:46.080 --> 0:19:48.840
<v Speaker 1>means users who want to experiment need to understand how

0:19:48.880 --> 0:19:51.439
<v Speaker 1>to combine the powdered and liquid ingredients to make a

0:19:51.480 --> 0:19:55.359
<v Speaker 1>particular concentration, which some brands of syringes will then measure

0:19:55.359 --> 0:19:58.919
<v Speaker 1>in milli liters, while others simply show units About a

0:19:59.000 --> 0:20:02.280
<v Speaker 1>year ago new the patients of the telehealth platform ivim

0:20:02.400 --> 0:20:05.600
<v Speaker 1>Health began showing up to their intake appointments mentioning that

0:20:05.640 --> 0:20:09.640
<v Speaker 1>they were on reta truetide, Lily's new unapproved GLP one

0:20:09.720 --> 0:20:13.040
<v Speaker 1>that in research use form is now the most popular

0:20:13.119 --> 0:20:16.880
<v Speaker 1>drug among peptide buyers. When asked how much they were taking,

0:20:17.119 --> 0:20:20.760
<v Speaker 1>they had no idea. When we're on those video conferences

0:20:20.800 --> 0:20:23.879
<v Speaker 1>with patients, will ask them like show us the vial

0:20:24.000 --> 0:20:28.080
<v Speaker 1>and show us the injection instructions, says Taylor Canter, ivem's

0:20:28.080 --> 0:20:31.520
<v Speaker 1>co founder and chief medical officer. Usually they just have

0:20:31.640 --> 0:20:36.000
<v Speaker 1>the vile shipping research peptides with instructions for dosage and injection.

0:20:36.119 --> 0:20:39.199
<v Speaker 1>After all, would risk sellers acknowledging that they're selling to

0:20:39.240 --> 0:20:43.679
<v Speaker 1>individual patients for human use. The regulatory changes the FDA

0:20:43.880 --> 0:20:46.840
<v Speaker 1>is considering would be the first step in moving access

0:20:46.880 --> 0:20:50.399
<v Speaker 1>to at least some of these substances into compounding pharmacies,

0:20:50.680 --> 0:20:52.840
<v Speaker 1>which would reduce some of the risks that come with

0:20:52.920 --> 0:20:57.840
<v Speaker 1>consumers acting as kitchen table chemists. Because retaitrutide is currently

0:20:57.880 --> 0:21:02.160
<v Speaker 1>in phase three clinical trials, it wouldn't be included. Compounders

0:21:02.200 --> 0:21:06.119
<v Speaker 1>operate licensed, state regulated, and sterile facilities that would ship

0:21:06.160 --> 0:21:09.600
<v Speaker 1>peptides in ready to inject vials of liquid that include

0:21:09.720 --> 0:21:13.479
<v Speaker 1>dosing and injection instructions. These kinds of pharmacies have been

0:21:13.520 --> 0:21:16.480
<v Speaker 1>around as long as doctors have been writing prescriptions, but

0:21:16.560 --> 0:21:20.200
<v Speaker 1>the COVID nineteen era boom in telehealth usage and massive

0:21:20.240 --> 0:21:23.760
<v Speaker 1>shortages of name brand GLP ones suddenly put them front

0:21:23.760 --> 0:21:27.720
<v Speaker 1>and center with consumers. You saw one telehealth company run

0:21:27.720 --> 0:21:31.800
<v Speaker 1>a Super Bowl ad advertising compounded drugs, says Scott Brunner,

0:21:32.080 --> 0:21:35.560
<v Speaker 1>a pharmacist and the CEO of the Alliance for Pharmacy Compounding,

0:21:35.840 --> 0:21:38.719
<v Speaker 1>a US trade group, that would have been unheard of

0:21:38.800 --> 0:21:42.160
<v Speaker 1>ten years ago. As a result, many of the country's

0:21:42.240 --> 0:21:46.159
<v Speaker 1>thousands of licensed compounders have dramatically expanded their capacity to

0:21:46.200 --> 0:21:48.240
<v Speaker 1>make peptides in the past few years.

0:21:49.080 --> 0:21:50.200
<v Speaker 2>Although the vast.

0:21:49.920 --> 0:21:54.360
<v Speaker 1>Majority of compounding pharmacies won't touch the currently unpermitted peptides,

0:21:54.600 --> 0:21:58.000
<v Speaker 1>some of them, including those rice sources from for patients,

0:21:58.240 --> 0:22:01.520
<v Speaker 1>have continued to fill prescriptions for the drugs anyway, even

0:22:01.600 --> 0:22:05.119
<v Speaker 1>after the Biden era changes reinforced that they weren't authorized

0:22:05.160 --> 0:22:08.399
<v Speaker 1>to do so. Now that there's a peptide friendly administration

0:22:08.480 --> 0:22:12.200
<v Speaker 1>in the White House, some pharmacies and practitioners alike, especially

0:22:12.240 --> 0:22:15.639
<v Speaker 1>those in red states, appear even more comfortable gambling that

0:22:15.760 --> 0:22:19.760
<v Speaker 1>regulatory clearance is more likely than targeted enforcement for those

0:22:19.760 --> 0:22:21.560
<v Speaker 1>who get into the peptide business.

0:22:21.320 --> 0:22:22.159
<v Speaker 2>A little bit early.

0:22:22.720 --> 0:22:26.240
<v Speaker 1>Among prescribers, the practice has become so widespread that in

0:22:26.320 --> 0:22:29.840
<v Speaker 1>early June, the Alabama Board of Medical Examiners issued an

0:22:29.880 --> 0:22:34.119
<v Speaker 1>official notice warning the state's practitioners that prescribing or recommending

0:22:34.240 --> 0:22:38.760
<v Speaker 1>research grade medications is prohibited by law, even if patients

0:22:38.800 --> 0:22:41.919
<v Speaker 1>sign a waiver advising them of the risks. That some

0:22:42.200 --> 0:22:45.720
<v Speaker 1>compounders already demonstrated a willingness to play fast and loose

0:22:45.760 --> 0:22:48.360
<v Speaker 1>with the rules during the heady days of the GLP

0:22:48.480 --> 0:22:52.240
<v Speaker 1>one boom, worries Brunner, the Pharmacy Trade Group head, about

0:22:52.280 --> 0:22:55.680
<v Speaker 1>what might be ahead. There are telehealth platforms that are

0:22:55.680 --> 0:22:58.879
<v Speaker 1>members of our organization and our model citizens, but there

0:22:58.920 --> 0:23:01.800
<v Speaker 1>are some that you know they didn't exist in twenty

0:23:01.840 --> 0:23:06.159
<v Speaker 1>twenty three, He says, I'm concerned about that kind of opportunism,

0:23:06.480 --> 0:23:09.879
<v Speaker 1>which I suspect in a universe where these peptides are authorized,

0:23:10.160 --> 0:23:14.840
<v Speaker 1>will repeat itself. We'll be right back with Caveat injector.

0:23:17.680 --> 0:23:22.040
<v Speaker 1>Welcome back to Caveat injector. Tucked away at the back

0:23:22.080 --> 0:23:24.680
<v Speaker 1>of a cafe at a five star hotel in London's

0:23:24.760 --> 0:23:25.840
<v Speaker 1>ritzy Notting Hill.

0:23:26.400 --> 0:23:28.240
<v Speaker 2>Mansi Houkmani is fresh from.

0:23:28.080 --> 0:23:31.399
<v Speaker 1>The gym and sipping on carrot juice. The Belize native

0:23:31.480 --> 0:23:33.880
<v Speaker 1>moved to London about six months ago after a stint

0:23:33.960 --> 0:23:36.240
<v Speaker 1>in New York, but it's hard to say where she'll

0:23:36.240 --> 0:23:39.159
<v Speaker 1>be on any given day. She travels back to the

0:23:39.280 --> 0:23:42.600
<v Speaker 1>US frequently and flits between far flung locales such as

0:23:42.680 --> 0:23:45.879
<v Speaker 1>Dubai and Panama at the behest of her clients. About

0:23:45.880 --> 0:23:48.040
<v Speaker 1>a year and a half ago, after leaving her career

0:23:48.119 --> 0:23:52.119
<v Speaker 1>developing branding and growth strategies for tech startups, she started

0:23:52.160 --> 0:23:57.520
<v Speaker 1>a wellness focused substack newsletter called Chief Longevity Officer. It

0:23:57.560 --> 0:24:00.439
<v Speaker 1>didn't take long for something she'd written about pepti to

0:24:00.440 --> 0:24:03.600
<v Speaker 1>make the rounds. I started getting invited a lot to

0:24:03.640 --> 0:24:07.320
<v Speaker 1>these biohacker meetups in New York, literally going to people's

0:24:07.400 --> 0:24:11.400
<v Speaker 1>high rise lofts in Tribeca and seeing people inject themselves.

0:24:12.000 --> 0:24:15.919
<v Speaker 1>The opportunity in peptides, she says, quickly became obvious. A

0:24:15.920 --> 0:24:18.440
<v Speaker 1>lot of people who start companies and dole out investment

0:24:18.520 --> 0:24:21.719
<v Speaker 1>dollars had suddenly become interested in experimenting in a sector

0:24:22.040 --> 0:24:24.600
<v Speaker 1>that most of them didn't know much about, and so

0:24:24.840 --> 0:24:27.640
<v Speaker 1>Houkmani has become one of a small but growing cohort

0:24:27.640 --> 0:24:31.439
<v Speaker 1>of advisors, fixers, and consultants who help people with money

0:24:31.440 --> 0:24:33.840
<v Speaker 1>figure out how to put it into the peptide market.

0:24:34.480 --> 0:24:38.520
<v Speaker 1>Houkmani's sprawling network of friends and associates includes Max marcione,

0:24:38.920 --> 0:24:42.480
<v Speaker 1>a founder of San Francisco based Superpower Health, which until

0:24:42.520 --> 0:24:45.400
<v Speaker 1>recently was just a blood testing startup for people who

0:24:45.400 --> 0:24:47.520
<v Speaker 1>want to self monitor their biomarkers.

0:24:48.119 --> 0:24:49.600
<v Speaker 2>Marcioni first became.

0:24:49.400 --> 0:24:52.240
<v Speaker 1>Aware of peptides in twenty twenty four when his co

0:24:52.359 --> 0:24:55.880
<v Speaker 1>founder looked at Marcioni's stack of nutritional supplements and told

0:24:55.920 --> 0:24:59.639
<v Speaker 1>him he needed to give peptides a try. Initially, Marcioni

0:24:59.680 --> 0:25:02.879
<v Speaker 1>says he was spooted to self inject the drugs, but

0:25:02.960 --> 0:25:05.040
<v Speaker 1>he got over it, and in the past six months

0:25:05.119 --> 0:25:09.240
<v Speaker 1>or so he's remade Superpower, acquiring technology from a biotech

0:25:09.280 --> 0:25:12.480
<v Speaker 1>company that will allow it to customize its peptide formulations.

0:25:13.040 --> 0:25:16.200
<v Speaker 1>The goal, he says, is to begin selling immediately when

0:25:16.240 --> 0:25:19.879
<v Speaker 1>the FDA's regulatory changes hit, and for Superpower to become

0:25:20.200 --> 0:25:24.520
<v Speaker 1>the biggest peptide company in the world. Not everyone will

0:25:24.560 --> 0:25:27.120
<v Speaker 1>be able to move as swiftly if the FDA flips

0:25:27.119 --> 0:25:30.720
<v Speaker 1>a switch runner. The CEO at the Pharmacy Compounding Trade

0:25:30.760 --> 0:25:33.760
<v Speaker 1>Group says he's worried that the group's member companies will

0:25:33.800 --> 0:25:37.480
<v Speaker 1>be inundated with prescriptions they can't fill and angry customers

0:25:37.520 --> 0:25:41.000
<v Speaker 1>they'll have to turn away. To comply with quality regulations,

0:25:41.119 --> 0:25:45.080
<v Speaker 1>Compounding pharmacies can't just WhatsApp a Chinese supplier, send over

0:25:45.119 --> 0:25:48.439
<v Speaker 1>some Bitcoin and start filling prescriptions once the API powder

0:25:48.520 --> 0:25:52.159
<v Speaker 1>clears customs. Most estimates I hear are between three and

0:25:52.280 --> 0:25:56.280
<v Speaker 1>nine months, he says, for a pharmacy to establish regulatorially

0:25:56.400 --> 0:26:00.320
<v Speaker 1>sound sourcing for the ingredients necessary to compound many currently

0:26:00.359 --> 0:26:04.600
<v Speaker 1>banned peptides. If that happens, he fears that some compounders

0:26:04.880 --> 0:26:07.359
<v Speaker 1>might be tempted to turn to substances that are below

0:26:07.440 --> 0:26:11.480
<v Speaker 1>pharmaceutical grade to meet the demand. Hukmani, who says she's

0:26:11.520 --> 0:26:14.679
<v Speaker 1>currently advising a firm that's looking to bring peptide manufacturing

0:26:14.760 --> 0:26:17.840
<v Speaker 1>to the US, describe the issue a little more succinctly.

0:26:18.520 --> 0:26:21.240
<v Speaker 1>It's not even America that really controls the peptide and

0:26:21.320 --> 0:26:26.879
<v Speaker 1>GLP one infrastructure. It's like effing China to manufacture peptides

0:26:26.920 --> 0:26:31.000
<v Speaker 1>profitably requires economies of scale. The facilities and equipment are

0:26:31.000 --> 0:26:34.639
<v Speaker 1>too expensive and technically complex for opportunists to enter the

0:26:34.640 --> 0:26:37.919
<v Speaker 1>market overnight or for manufacturing capacity to be spun up

0:26:38.000 --> 0:26:41.879
<v Speaker 1>quickly in the US, Europe has a few big manufacturers that,

0:26:42.200 --> 0:26:45.960
<v Speaker 1>along with highly reputable Chinese suppliers, mostly deal with high

0:26:46.040 --> 0:26:50.040
<v Speaker 1>end drug companies and large, well funded research laboratories. For

0:26:50.119 --> 0:26:54.600
<v Speaker 1>pretty much everyone else, smaller pharma companies, compounding pharmacies less

0:26:54.600 --> 0:26:58.359
<v Speaker 1>sophisticated research labs, the active ingredient is imported from one

0:26:58.400 --> 0:27:03.480
<v Speaker 1>of many other Chinese chemicals manufacturers. It's generally these manufacturers

0:27:03.480 --> 0:27:06.639
<v Speaker 1>that also directly or indirectly supply the black market for

0:27:06.920 --> 0:27:11.440
<v Speaker 1>research chemicals. Though in China it's illegal to export pharmaceutical

0:27:11.440 --> 0:27:14.639
<v Speaker 1>grade ingredients without a permit, some take the risk of

0:27:14.680 --> 0:27:18.639
<v Speaker 1>filling the vials themselves. For other manufacturers, their participation is

0:27:18.760 --> 0:27:23.040
<v Speaker 1>unwitting or at least plausibly deniable. Local middlemen set up

0:27:23.040 --> 0:27:26.400
<v Speaker 1>front companies that claim to be ordering bulk peptide ingredients

0:27:26.400 --> 0:27:29.160
<v Speaker 1>for legal uses, and the front companies handle the work

0:27:29.200 --> 0:27:33.199
<v Speaker 1>of processing and packaging those ingredients into dosage specific vials

0:27:33.240 --> 0:27:37.640
<v Speaker 1>For consumers overseas. When a BusinessWeek reporter visited Yanishik's check

0:27:37.720 --> 0:27:41.160
<v Speaker 1>testing facility in April, two employees were hauling a big

0:27:41.200 --> 0:27:44.760
<v Speaker 1>blue Ikia bag full of testing samples into the company's lab.

0:27:45.440 --> 0:27:48.879
<v Speaker 1>Yanishik's peptide sampling room is filled with tiny vials that

0:27:48.920 --> 0:27:52.680
<v Speaker 1>have been cataloged, weighed, and sometimes shaken or heated, depending

0:27:52.720 --> 0:27:56.200
<v Speaker 1>on the substance. An employee feeds samples into one of

0:27:56.240 --> 0:28:00.560
<v Speaker 1>the liquid chromatography mass spectrometry machines. The business is growing

0:28:00.560 --> 0:28:03.800
<v Speaker 1>so fast Yanishik has ballooned from ten to almost forty

0:28:03.800 --> 0:28:07.800
<v Speaker 1>employees since last year. The machines are labeled with mythological

0:28:07.880 --> 0:28:11.280
<v Speaker 1>characters and superheroes to help its many new staffers discern

0:28:11.359 --> 0:28:15.040
<v Speaker 1>one from another. This is Sith, a Nordic goddess, and

0:28:15.080 --> 0:28:18.080
<v Speaker 1>this one is Thor Magic, says, pointing to two of

0:28:18.119 --> 0:28:22.560
<v Speaker 1>the machines. Yanishek and its clients, typically peptide sellers in

0:28:22.600 --> 0:28:25.879
<v Speaker 1>the US or private sourcing groups, can then look up

0:28:25.880 --> 0:28:28.320
<v Speaker 1>the batch numbers printed on their fials to see if

0:28:28.320 --> 0:28:31.280
<v Speaker 1>what's inside is what it claims to be. Only about

0:28:31.320 --> 0:28:35.040
<v Speaker 1>five percent of samples don't pass, a percentage that's consistent

0:28:35.080 --> 0:28:39.080
<v Speaker 1>across other testing labs. Magic is careful to note that

0:28:39.160 --> 0:28:43.080
<v Speaker 1>Yanishik can detect contaminants such as heavy metals or indotoxins,

0:28:43.480 --> 0:28:46.280
<v Speaker 1>but can't determine whether the substance is safe to inject

0:28:46.320 --> 0:28:47.880
<v Speaker 1>on a pharmacological level.

0:28:48.240 --> 0:28:49.440
<v Speaker 2>But still, as the.

0:28:49.480 --> 0:28:52.720
<v Speaker 1>Ranks of black market consumers have grown, those buyers have

0:28:52.760 --> 0:28:55.600
<v Speaker 1>begun to demand evidence of third party testing from other

0:28:55.720 --> 0:29:00.479
<v Speaker 1>types of suppliers, including licensed compounding pharmacies who'd never received

0:29:00.520 --> 0:29:04.000
<v Speaker 1>such requests from patients in the past. This Magic, says,

0:29:04.320 --> 0:29:07.240
<v Speaker 1>is a completely new frontier for his business, and he's

0:29:07.280 --> 0:29:10.040
<v Speaker 1>negotiating a deal with an American lab that would expand

0:29:10.080 --> 0:29:13.960
<v Speaker 1>the Yanishik name stateside. In other areas of the market,

0:29:14.320 --> 0:29:17.280
<v Speaker 1>entrepreneurs are looking for more ways to rush in. At

0:29:17.320 --> 0:29:21.000
<v Speaker 1>the inaugural meeting of the California Peptide Club in April,

0:29:21.200 --> 0:29:24.640
<v Speaker 1>held at a hilltop San Francisco mansion, conversation among the

0:29:24.680 --> 0:29:28.040
<v Speaker 1>one hundred and fifty attendees centered on what business opportunities

0:29:28.160 --> 0:29:31.680
<v Speaker 1>might be available to founders and investors. In New York,

0:29:31.880 --> 0:29:37.000
<v Speaker 1>wellness influencer Delphine Legrand recently introduced The Protocol, an online

0:29:37.040 --> 0:29:41.400
<v Speaker 1>subscription service that lets members, primarily women, by premium grade

0:29:41.400 --> 0:29:43.360
<v Speaker 1>peptides with physician oversight.

0:29:44.080 --> 0:29:44.520
<v Speaker 2>She says.

0:29:44.560 --> 0:29:47.960
<v Speaker 1>Investors were initially reluctant to fund her company, but given

0:29:48.040 --> 0:29:50.960
<v Speaker 1>the expected change in regulation in the last few months,

0:29:50.960 --> 0:29:54.880
<v Speaker 1>we've seen a huge, huge shift where every institutional investor

0:29:54.960 --> 0:29:58.760
<v Speaker 1>is trying to form their thesis on this space. Rare Capital,

0:29:58.920 --> 0:30:01.600
<v Speaker 1>a private investment firms in Nashville that was bullish on

0:30:01.600 --> 0:30:05.920
<v Speaker 1>peptide startups even before the prospect of legalization, led protocols

0:30:05.960 --> 0:30:09.440
<v Speaker 1>six million dollar seed round in April. To Rachel Schau,

0:30:09.680 --> 0:30:12.880
<v Speaker 1>the fund's co founder, it was obvious just how mainstream

0:30:12.960 --> 0:30:16.720
<v Speaker 1>the demand already was wherever she went. A country music

0:30:16.760 --> 0:30:20.560
<v Speaker 1>concert in Florida, her Minnesota hometown, the luxurious haunts of

0:30:20.600 --> 0:30:24.840
<v Speaker 1>Los Angeles' wealthy residents, hangouts with her teacher friends, people

0:30:24.880 --> 0:30:28.240
<v Speaker 1>were buzzing about peptides. The middle of the US is

0:30:28.280 --> 0:30:32.640
<v Speaker 1>all talking about it, she says. Other investors, including Daisy Wolf,

0:30:32.800 --> 0:30:36.000
<v Speaker 1>a partner at Andres and Horowitz, are intrigued.

0:30:35.560 --> 0:30:36.280
<v Speaker 2>But skeptical.

0:30:36.960 --> 0:30:40.040
<v Speaker 1>Demand is clearly huge, and many of the GLP one

0:30:40.160 --> 0:30:43.520
<v Speaker 1>drugs are exciting, Wolf says, but she says she's worried

0:30:43.520 --> 0:30:46.320
<v Speaker 1>about a lack of oversight and safety data around.

0:30:46.080 --> 0:30:49.200
<v Speaker 2>A lot of what's out there. Anyone selling reta.

0:30:48.960 --> 0:30:52.120
<v Speaker 1>Truetide right now is just like a flat out criminal,

0:30:52.560 --> 0:30:54.720
<v Speaker 1>and it's scary that people are in jecting themselves with

0:30:54.800 --> 0:30:59.240
<v Speaker 1>black market drugs, she says. Pharma companies seem stunned that

0:30:59.520 --> 0:31:02.480
<v Speaker 1>over the course of just a few years, American consumers

0:31:02.520 --> 0:31:04.840
<v Speaker 1>have found a way to get their hands on substances

0:31:05.120 --> 0:31:08.040
<v Speaker 1>that are too experimental for them to legally market, or

0:31:08.080 --> 0:31:10.840
<v Speaker 1>that they gave up on developing years ago. But in

0:31:10.880 --> 0:31:14.360
<v Speaker 1>the age of social media and DIY wellness, these drugs

0:31:14.360 --> 0:31:17.280
<v Speaker 1>have found a second life with consumers willing to experiment

0:31:17.320 --> 0:31:20.920
<v Speaker 1>on themselves. This new dynamic presents a problem for the

0:31:20.920 --> 0:31:24.440
<v Speaker 1>future of drug development. Drug companies are generally willing to

0:31:24.480 --> 0:31:27.600
<v Speaker 1>pay for the expensive trial and error because patent laws

0:31:27.640 --> 0:31:30.640
<v Speaker 1>then allow them to reap huge profits on drugs that succeed.

0:31:31.400 --> 0:31:35.120
<v Speaker 1>If the FDA is prepared to accept overwhelming consumer demand

0:31:35.160 --> 0:31:38.640
<v Speaker 1>as a justification for curtailing those patent rights, then the

0:31:38.680 --> 0:31:41.680
<v Speaker 1>financial calculus for drug makers changes in ways that could

0:31:41.680 --> 0:31:46.640
<v Speaker 1>fundamentally alter the future of pharmaceuticals. Obesity drug upstarts such

0:31:46.640 --> 0:31:50.680
<v Speaker 1>as Structure Therapeutics are already bracing for potential copycats to

0:31:50.680 --> 0:31:53.640
<v Speaker 1>flood the market years before they even have an approved drug.

0:31:54.440 --> 0:31:57.680
<v Speaker 1>It's obviously a risk to innovation and Reason's Wolf says,

0:31:58.080 --> 0:32:01.760
<v Speaker 1>why should biotechs and scientists billions of dollars in inventing

0:32:01.800 --> 0:32:05.240
<v Speaker 1>new drugs that can change humanity save lives if they're

0:32:05.280 --> 0:32:07.840
<v Speaker 1>just going to be ripped off immediately and there's going

0:32:07.880 --> 0:32:12.320
<v Speaker 1>to be no protection. Not Surprisingly, Dave Rix, CEO of

0:32:12.360 --> 0:32:14.320
<v Speaker 1>Lily and one of the most powerful people in the

0:32:14.360 --> 0:32:18.880
<v Speaker 1>pharmaceutical industry, agrees, people don't have a biochemistry lab in

0:32:18.920 --> 0:32:22.120
<v Speaker 1>their basement and those medicines haven't been tested in clinical

0:32:22.160 --> 0:32:22.880
<v Speaker 1>trials like.

0:32:22.800 --> 0:32:23.880
<v Speaker 2>A Lily medicine.

0:32:23.960 --> 0:32:26.800
<v Speaker 1>Rix says, when you buy a Lily medicine, you know

0:32:26.840 --> 0:32:29.920
<v Speaker 1>what's in it and you know is tested. The question

0:32:30.080 --> 0:32:32.640
<v Speaker 1>of how to regulate such a market will be central

0:32:32.680 --> 0:32:35.840
<v Speaker 1>when the FDA convenes at its campus in White Oak, Maryland,

0:32:35.840 --> 0:32:40.760
<v Speaker 1>in July. Over two days, the agency's Pharmacy Compounding Advisory Committee,

0:32:40.840 --> 0:32:45.200
<v Speaker 1>or PCAC, will consider whether compounding pharmacies should be allowed

0:32:45.200 --> 0:32:48.960
<v Speaker 1>to legally make a handful of popular peptides. The agenda

0:32:49.000 --> 0:32:53.560
<v Speaker 1>includes BPC one fifty seven for ulcerative colitis, a disease

0:32:53.560 --> 0:32:57.560
<v Speaker 1>that causes painful ulcers in large intestine, TB five hundred

0:32:57.600 --> 0:33:02.960
<v Speaker 1>for wound healing, and MOTSC for obesity, among others. The

0:33:03.040 --> 0:33:05.960
<v Speaker 1>problem is that there aren't large scale clinical trials in

0:33:06.080 --> 0:33:09.720
<v Speaker 1>humans proving the safety or effectiveness of most of these compounds,

0:33:10.160 --> 0:33:13.880
<v Speaker 1>evidence that PCAC, a group that currently has only three

0:33:14.000 --> 0:33:18.520
<v Speaker 1>voting members as opposed to its statutorily required ten, historically

0:33:18.560 --> 0:33:23.360
<v Speaker 1>requires before making an affirmative recommendation. Beyond that, little information

0:33:23.400 --> 0:33:26.120
<v Speaker 1>has been released about the meeting, and the FDA has

0:33:26.200 --> 0:33:30.040
<v Speaker 1>been roiled by recent staff changes. The prevalence of these

0:33:30.080 --> 0:33:33.520
<v Speaker 1>substances on the black market and growing consumer awareness do

0:33:33.600 --> 0:33:38.440
<v Speaker 1>not change FDA scientific or regulatory standards, HHS Press Secretary

0:33:38.480 --> 0:33:42.160
<v Speaker 1>Emily Hilliard said in an emailed statement. At the upcoming

0:33:42.200 --> 0:33:46.960
<v Speaker 1>PCAC meeting, independent experts will evaluate the available scientific evidence

0:33:47.000 --> 0:33:51.160
<v Speaker 1>for each substance, including clinical, pharmacological safety.

0:33:50.760 --> 0:33:52.040
<v Speaker 2>And other relevant data.

0:33:52.720 --> 0:33:55.960
<v Speaker 1>Despite the chaos, and despite the further FDA rulemaking that

0:33:56.000 --> 0:34:00.160
<v Speaker 1>would be necessary to permit compounding more peptides, preparations for

0:34:00.240 --> 0:34:05.240
<v Speaker 1>Peptide Liberation Day continue. Businesses that already offer certain legal

0:34:05.280 --> 0:34:08.359
<v Speaker 1>peptides are getting ready to add even more, While some

0:34:08.520 --> 0:34:11.200
<v Speaker 1>compounding pharmacies have gotten a jump on the month's long

0:34:11.280 --> 0:34:16.120
<v Speaker 1>process of securing their supply chains. Ivems Canter, whose telehealth

0:34:16.120 --> 0:34:19.920
<v Speaker 1>company already offers GLP ones and the peptide sur Morellan,

0:34:20.280 --> 0:34:23.680
<v Speaker 1>which can be compounded legally, says its pharmacy partners are

0:34:23.800 --> 0:34:26.840
<v Speaker 1>going through the testing phase to ensure quality and safety

0:34:26.920 --> 0:34:30.160
<v Speaker 1>thresholds are met. It's also trying to figure out which

0:34:30.200 --> 0:34:32.880
<v Speaker 1>peptides it will be able to offer, and is conducting

0:34:32.920 --> 0:34:38.120
<v Speaker 1>peptide focused training sessions with its practitioners. Other telehealths are

0:34:38.160 --> 0:34:40.600
<v Speaker 1>trying to strike a more cautious tone with the public.

0:34:41.200 --> 0:34:44.880
<v Speaker 1>Hymn's and Hers Health with Jones of peptide manufacturing facility

0:34:44.880 --> 0:34:48.240
<v Speaker 1>in California, says it isn't planning to rush into the market.

0:34:48.800 --> 0:34:52.080
<v Speaker 1>The six point four billion dollar company, which recently roused

0:34:52.080 --> 0:34:55.800
<v Speaker 1>the ire of federal regulators over its aggressive GLP one marketing,

0:34:56.200 --> 0:34:59.359
<v Speaker 1>says it won't expand its peptide lineup for consumers until

0:34:59.360 --> 0:35:01.919
<v Speaker 1>it's confident and its ability to meet the very high

0:35:02.000 --> 0:35:04.200
<v Speaker 1>standards that we believe everyone should be meeting.

0:35:04.520 --> 0:35:05.920
<v Speaker 2>A spokesperson says.

0:35:06.360 --> 0:35:09.600
<v Speaker 1>If the FDA does expand access to certain peptides, the

0:35:09.640 --> 0:35:13.920
<v Speaker 1>patient experience must include a rigorous intake process, consistent provider

0:35:13.960 --> 0:35:17.800
<v Speaker 1>involvement and a commitment to advancing reliable learnings about safety

0:35:17.800 --> 0:35:21.480
<v Speaker 1>and efficacy. If regulators decide to open the door to

0:35:21.560 --> 0:35:24.920
<v Speaker 1>more kinds of peptides, there will also be a market shakeout.

0:35:25.480 --> 0:35:29.279
<v Speaker 1>Businesses that sell research grade chemicals tend to lose some customers,

0:35:29.520 --> 0:35:32.520
<v Speaker 1>and even a peptide friendly FDA might crack down on

0:35:32.600 --> 0:35:36.920
<v Speaker 1>those suppliers once a more regulated option exists. At Utah's

0:35:37.000 --> 0:35:40.120
<v Speaker 1>Compound Sciences, the founders say they'd be sorry to see

0:35:40.120 --> 0:35:42.960
<v Speaker 1>the revenue stream go if the FDA tightened its screws

0:35:43.000 --> 0:35:45.160
<v Speaker 1>on research use retailers.

0:35:44.960 --> 0:35:46.240
<v Speaker 2>But they wouldn't lose sleep.

0:35:46.840 --> 0:35:50.319
<v Speaker 1>Their long game, the co founder says, is elsewhere. He

0:35:50.400 --> 0:35:54.680
<v Speaker 1>and his partner also own licensed compounding pharmacies. Our real

0:35:54.719 --> 0:35:58.000
<v Speaker 1>goal in this is to move peptides into the compounding pharmacy,

0:35:58.080 --> 0:36:02.440
<v Speaker 1>he says, which already fills to zeppetide prescriptions for telehealth companies.

0:36:03.160 --> 0:36:06.399
<v Speaker 1>Not only would the proposed regulatory changes likely help more

0:36:06.480 --> 0:36:09.080
<v Speaker 1>patients feel comfortable trying the drugs.

0:36:09.000 --> 0:36:10.560
<v Speaker 2>But the company also wouldn't have to.

0:36:10.520 --> 0:36:12.640
<v Speaker 1>Deal with some of the headaches of operating on the

0:36:12.640 --> 0:36:16.280
<v Speaker 1>black market, such as breaking up import shipments into smaller

0:36:16.320 --> 0:36:20.680
<v Speaker 1>packages to avoid confiscation and dealing with overpriced payment processors

0:36:20.719 --> 0:36:23.360
<v Speaker 1>who are willing to handle credit and debit transactions for

0:36:23.440 --> 0:36:27.200
<v Speaker 1>high risk businesses. At the moment, though, the headaches are

0:36:27.200 --> 0:36:29.839
<v Speaker 1>worth it. It's not a nice way of explaining it.

0:36:30.200 --> 0:36:32.920
<v Speaker 1>But the research only side is our side. Chick, the

0:36:32.960 --> 0:36:37.239
<v Speaker 1>co founder, says. Right now, the side Chick is tremendously successful.

0:36:37.640 --> 0:36:41.480
<v Speaker 1>She's the one we're putting on our arm with Ambertong

0:36:41.640 --> 0:36:42.600
<v Speaker 1>and brody Ford.