Bijan Salehizadeh - Eli Lilly's War on Compounded GLP-1s, Peptides, Retatrutide, and Hims vs Ro

<p>Thanks to our partner:Superpower - https://superpower.com</p><p>In episode 77, Jonathan Stern talks with Dr. Bijan Salehizadeh -- physician and managing director of NaviMed Capital, former pharma venture investor, founding investor in Auris Health. Bijan holds no position in HIMS. The conversation opens on the FDA: why Heidi Overton is &quot;moldable clay,&quot; her 30-40% confirmation odds, and why pharma prefers interim commissioner Kyle Diamantis. They then move to Eli Lilly&#39;s multi-front war on compounded GLP-1s, the ReviveRx suit, the effort to pull semaglutide and tirzepatide off the 503B bulks list, and Bijan&#39;s theory of a &quot;grand bargain&quot; trading compounding restrictions for Medicare pricing cooperation. He walks through the retatrutide biologic fight ahead of the September 24th appellate argument in Chicago, and why Hims&#39; 76% gross margins are gone for good as branded dispensing grows. They close on peptides: Bijan has heard Category 1 rulemaking *could* come as soon as November, and he thinks the market could be 10x bigger than current estimates.</p><p><br></p><p>00:00 - Sponsor: Superpower</p><p>01:16 - No one knows anything about Heidi Overton (FDA nominee)</p><p>06:29 - Eli Lilly&#39;s war on 503A pharmacies</p><p>08:47 - The Lilly &quot;grand bargain&quot;</p><p>13:49 - When compounding becomes a &quot;new drug&quot; </p><p>17:34 - Branded drugs crush margins</p><p>21:51 - Hims management scorecard</p><p>26:29 - Retatrutide reclassification fight</p><p>35:10 - Suing the reta gray market vendors</p><p>37:06 - Why the Wegovy pill is beating Foundayo</p><p>40:56 - Europe is a second-tier market</p><p>42:15 - Can LillyDirect beat telehealth?</p><p>46:14 - Peptides Wild West</p><p>50:51 - Category 1 by November?</p><p>52:40 - Peptides market 10x bigger than estimates</p><p>55:56 - Will Ro go public?</p><p>58:34 - Bullish $HIMS long term </p><p><br></p><p>Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.</p>