BofA says FDA head nominee positive development for compounders like Hims & Hers

BofA notes that Dr. Martin Makary, the man who President-elect Donald Trump nominated to lead the Food and Drug Administration as its commissioner, is the Chief Medical Officer for Sesame, a telehealth company that sells compounded semaglutide. The ability for Hims & Hers and peers like Sesame to sell compounded GLP-1s will be decided by the FDA and having a leader of the agency that currently works for a company that operates as a GLP-1 compounder is “at a minimum” a positive incremental development for the future of the broader compounded GLP-1 opportunity, the analyst tells investors. While the firm maintains its Underperform rating on Hims & Hers given negative competitive developments, it acknowledges “the upside risk around GLP-1s.”