In Episode 42 of Hims House, Jonathan Stern and Patrick Lester (Bayside) sit down with Shaun Noorian, founder & CEO of Empower Pharmacy, the world’s largest compounding pharmacy. We dig into why rumors about 503Bs “ramping up GLP-1s” may be misleading, how Empower is challenging Eli Lilly on tirzepatide patents, and the broader fight over compounding. We also how Trump’s new administration - RFK Jr. at HHS, and Marty Makary at FDA - could reshape the industry. We close with the MFN pricing backdrop under the new administration. All along the way, Noorian makes the case that compounding is not a loophole but a critical, highly regulated part of healthcare, and looks ahead to its future in hormone therapy, peptides, longevity medicine, and sleep health.
00:00 – Intro
00:52 – Empower’s mission: personalized medicine at scale
03:07 – GLP-1 rumors: are 503Bs ramping? What’s actually legal
09:21 – 503A vs. 503B compliance
19:14 – The Eli Lilly v. Empower lawsuit
27:04 – MFN pricing, EO chatter & compounding
33:11 – Hims’ impact on the industry: awareness, lobbying & demand
37:15 – HRT, peptides, longevity
39:59 – Sermorelin explained
41:32 – Bad actors vs. legitimate compounders
43:08 – Odds: percent chance of FDA action against compounders
Get full access to Hims House at
himshouse.substack.com/subscribe
