Vol. 3, No. 6 — June 2026Independent since 2024

TheCompound Journal

Reporting on incretins, compounding & the peptide supply chain

A monthly journal of record.
30 issues · 32 contributors
Not medical advice. We sell nothing.
T H ECOMPOUNDJOURNALVOL. 2 · NO. 6JUNE 2025

Volume 2, Number 6

June 2025

Why this publication prints the estimand, every single time, and will keep doing so.

60 pieces in the issue·110 also filed·30 contributors·140,492 words

Previous
May 2025
Volume
II

Editor’s letter

Something changed in this trade over the last two years that nobody announced: the documents got better. Not universally, not quickly, and not because anybody required it. But certificates that carried a percentage and a signature in 2024 now carry a method, a wavelength and, in two cases, an integration threshold. We did not cause that. We did notice it, which is the job.

In this number, 60 pieces across 8 departments, with 110 further dispatches filed from the newsroom and 30 contributors on the page. We lead with Lucía Berenguer on Mass and function are different endpoints and training affects them differently. Most coverage treats them as one and set beside it Imogen Thackeray in The Ledger. Part 8 of Twenty Vendors, Twenty Vials continues on the inside pages.

Our international correspondents keep sending back the same shape of story from different capitals: approval, restriction, waiting list, informal channel. The local details vary and the sequence does not. That pattern is the most important thing this journal has established about access, and it was established by people standing in pharmacies rather than by anyone reading a press release.

Corrections to anything in this number will appear in the corrections department, dated, attached to the piece, and in the same typeface as the error. Nothing in this journal is quietly edited after publication.

Contents

60 pieces

Pharmacology

7

When to stop escalating and when to stop entirely

The ceiling varies severalfold between people, and nothing measurable at baseline predicts where it sits.

Delphine Ruzek
1568 words

Gastric emptying is a mechanism, not a side effect

The central effects are not a bonus. On the current evidence they are the principal mechanism of weight loss.

Anneke van der Molen
1249 words

What the trials counted as intolerance

Trial discontinuation figures are a floor, not an estimate: trial populations are supported in ways ordinary patients are not.

Delphine Ruzek
1713 words

The restart nobody plans for

We work through the residual-exposure table so the decision can be made from numbers rather than from feel.

Marguerite Vasseur
2135 words

The mechanism behind the mechanism

The clinical effect profile is almost fully predictable from where the receptor is expressed, which is unusual and useful.

Priya Ramanathan, PharmD
1343 words

From cell to clinic: where the extrapolation stops being safe

Receptor pharmacology is strong on average effects and almost silent on individual variation. That gap is where most reader…

Anneke van der Molen
987 words

The eighteenth month, and the conversation that should have happened in the third

What the trials measured was continuation against withdrawal. What patients want to know is continuation at a lower dose, and…

Salomé Adeyemi
1371 words

The Supply Chain

7

The certificate of analysis, line by line

The header identifies the batch, the table records the tests, and the footer says who is answerable. Two of the three are…

Mei-Lin Tsou
1591 words

Chain of custody, and where it begins

Every third-party report in this market describes a sample somebody chose to send. That choice is outside the laboratory’s…

Evander Sittig
1642 words

The submitted sample: the weakest link in the whole system

Every third-party report in this market describes a sample somebody chose to send. That choice is outside the laboratory’s…

Evander Sittig
1591 words

Six words a verification badge would need to mean anything

Lot-level verification with a public report is a real and achievable thing. It exists in this market, on a minority of listings.

Evander Sittig
2951 words

LAL, kinetic chromogenic, recombinant factor C: three ways to the same figure

We submitted vials for endotoxin determination and report the results, the method and the laboratory, because a pyrogen figure…

Inés Abernathy
1843 words

What we asked twenty suppliers about stability data

A retest date says that material should be re-examined before use. An expiry date says it should not be used. The trade uses the…

Ruslan Yevtushenko
1528 words

Reading a certificate as a document rather than as a score

The header identifies the batch, the table records the tests, and the footer says who is answerable. Two of the three are…

Orla McCaffrey
2058 words

Clinical Trials

7

Every fortnight, every third week, seasonally: an unstudied practice

An absence of evidence is not evidence of harm. It is also not a licence.

Jonas Arvelo
1374 words

A reference interval is not a target, and a result outside one is not a diagnosis

Almost every misreading of a laboratory panel is a misunderstanding of what a reference interval is and how much a result has to…

Anneke van der Molen
1425 words

What the older diet-and-exercise trials found in the hip

A plausible mechanism, a measurable change, and no outcome data. This is what an open question looks like.

Jonas Arvelo
1794 words

SURMOUNT-2 was built to answer the stopping question, and it did

Three randomised withdrawal designs have tested what happens when treatment stops. Their results are consistent and they are…

Jonas Arvelo
2911 words

The three-times-upper-limit convention, and where it came from

What the renal and hepatic outcome programmes actually measured, and over what duration.

Jonas Arvelo
1599 words

What the protein literature actually shows, and in whom it was shown

Where the familiar figures come from, what populations they were measured in, and how far the extrapolation reaches.

Anneke van der Molen
1637 words

Coming off: what the pharmacology permits

What a slow reduction could plausibly buy, and what it certainly cannot prevent.

Anneke van der Molen
1665 words

Analytics

8

Accuracy, precision and the tolerance nobody states

Parts per million sound impressive until they are converted into daltons at the molecular weight of the thing being measured.

Callum Brathwaite
1580 words

Twenty-eight days is a number from somebody else’s product

An in-use period is established by a dedicated study on a specific formulation in a specific container at a specific…

Harriet Oduya
2325 words

One method is one opinion

Where two methods disagree, the conservative convention is to report the lower figure. It is not universal, and whether a…

Félix Oyarzún
2023 words

Resolving power and mass accuracy are two different specifications

Parts per million sound impressive until they are converted into daltons at the molecular weight of the thing being measured.

Callum Brathwaite
1578 words

Same mass, different molecule: why identity by mass is not identity

Reversed-phase chromatography runs in an organic, acidic mobile phase that dissociates most non-covalent aggregates on the way…

Callum Brathwaite
1751 words

Date of analysis, date of manufacture, and the gap between them

The interval between manufacture and analysis is the most under-read figure on the page, and the one most likely to matter by…

Roshan Devakumar
2047 words

What we asked twenty suppliers about stability data

A retest date says that material should be re-examined before use. An expiry date says it should not be used. The trade uses the…

Orla McCaffrey
2309 words

Deamidation, oxidation, and the two shifts worth memorising

What would be needed to catch each of these, and what it would cost.

Roshan Devakumar
2032 words

Patient Notes

8

The arithmetic of a step: what doubling a dose actually asks of you

The four-week step exists because four to five weeks is approximately how long a once-weekly drug takes to stop rising at a…

Gabriel Ntonga
1265 words

Why your laboratory interval differs from the one in the textbook

A flag is a probability statement about a population. It is not a statement about the person holding the printout.

Tamsin Okonjo
2364 words

Falling ferritin is not always falling iron

The panel drawn during a week of vomiting is measuring the vomiting.

Imogen Thackeray
1878 words

Pancreatitis, obstruction, gallbladder: three things nausea can be

A small number of serious gastrointestinal events occur in people taking these drugs. Distinguishing them from the expected…

Salomé Adeyemi
1725 words

Vitamin D, adiposity, and a volume-of-distribution problem

Reduced intake is a plausible mechanism for deficiency. Reduced absorption is not, and the two are conflated in most of the…

Priya Ramanathan, PharmD
1550 words

Sarcopenia is a diagnosis, not a synonym for losing lean mass

A tour of the source literatures, with an assessment of how far each legitimately reaches.

Delphine Ruzek
1692 words

The convention nobody explains before handing over the vial

Insulin syringes are graduated in units on a convention that fixes 100 units to one millilitre. That convention says nothing…

Tamsin Okonjo
2447 words

Escalating onto a rising curve

The four-week step exists because four to five weeks is approximately how long a once-weekly drug takes to stop rising at a…

Delphine Ruzek
1529 words

The Ledger

8

Maintenance dosing: what is licensed, what is practised, and what is evidenced

Dose reduction is not withdrawal, and the trials that tested withdrawal cannot be read as testing it.

Teodor Lindqvist
1481 words

Two-thirds back: the extension nobody expected to be the headline

The evidence on stopping is better than the evidence on almost anything else in this field, because somebody deliberately…

Imogen Thackeray
2555 words

How a claim degrades between the bench and the listing

Every step between the laboratory report and the product page removes information, and the badge is the last step.

Ruslan Yevtushenko
2002 words

The dose that got you here and the dose that keeps you here

Every withdrawal trial compared full dose against nothing. The clinically interesting comparison — full dose against a reduced…

Imogen Thackeray
1721 words

The named comparison we promised two years ago

Two years ago we ran an anonymised version of this comparison and promised a named one. This is it, with every method printed in…

Sunniva Ørstavik
1896 words

From vial to bench: what is recorded and what is assumed

The condition on arrival is recorded by some services and not others, and it is one of the more informative lines in a report.

Ruslan Yevtushenko
1614 words

How a claim degrades between the bench and the listing

Every step between the laboratory report and the product page removes information, and the badge is the last step.

Sunniva Ørstavik
2964 words

The lead-in, the randomisation, and the year that followed

A withdrawal trial answers a narrower question than it appears to. This piece states which question.

Teodor Lindqvist
1709 words

Laboratory Notebook

8

The one randomised trial that combined an incretin with supervised exercise

Mass and function are different endpoints and training affects them differently. Most coverage treats them as one.

Lucía Berenguer
2192 words

Which results should be repeated before they are investigated

What the pivotal programmes measured and how often, which is a more defensible template than most published monitoring schedules.

Perpetua Nwachukwu
1642 words

Storage after reconstitution, and the evidence behind the numbers

A needle blunts on first use. Reuse is uncomfortable, and it is a documented contributor to lipohypertrophy.

Callum Brathwaite
1736 words

Bacteriostatic water, sterile water, and the 0.9 per cent that makes the difference

We set out what is known, what is inferred and what is simply assumed about the fortnight after a vial is opened.

Callum Brathwaite
1921 words

Why a dry powder is a chemical reactor with the volume turned down

Residual moisture is measured routinely in regulated manufacture, is reported almost nowhere in this trade, and predicts…

Félix Oyarzún
2066 words

The ionisation line on a report is the most informative line on it

The ionisation method determines the charge states you see, the adducts you must account for, and the modifications you might…

Nikolaj Brandvold
3282 words

Units, millilitres, milligrams: three scales on one small object

We work through the arithmetic in full, because it is short, and because the errors it prevents are order-of-magnitude errors.

Callum Brathwaite
1881 words

Hydrolysis, isomerisation, and the arithmetic of a broken bond

Deamidation, oxidation, aggregation and hydrolysis account for nearly all of what happens to a peptide over time. Each has a…

Lucía Berenguer
1517 words

Explainers

7

Gauge, pain and flow rate

The insulin injection-technique literature is large, well conducted and directly transferable on questions of depth and tissue.…

Salomé Adeyemi
1575 words

The eighteenth month, and the conversation that should have happened in the third

The dose-response curve in this class flattens near its top. That has direct consequences for whether the final rung is worth…

Marguerite Vasseur
1375 words

Assay against a standard, or area per cent: two different questions

We asked the four independent testing services what standards they run against and what suitability criteria they apply. The…

Héctor Valmorida
2048 words

Four millimetres is enough, and the data says so

The insulin injection-technique literature is large, well conducted and directly transferable on questions of depth and tissue.…

Salomé Adeyemi
1763 words

The tolerance was set by whoever wrote the certificate

The arithmetic of significant figures, applied to a document that routinely reports four of them.

Héctor Valmorida
2516 words

Mapping a rotation that you will actually follow

A rotation scheme that is too complicated will not be followed. We describe the simple ones that are.

Delphine Ruzek
1303 words

The figure of merit this trade chose, and the four it did not

A market that competes on one measurement will optimise that measurement. There are legitimate ways to raise a purity figure…

Salomé Adeyemi
1798 words

Contributors to this issue

JA

Jonas Arvelo

Senior Fact Checker

Jonas Arvelo runs the fact-checking desk with Wren Kealoha. Every number, name, date, dose and citation in a feature…

RY

Ruslan Yevtushenko

Contributing Writer, Economics

Ruslan Yevtushenko models the cost stack: API, fill-finish, packaging, cold freight, customs, payment processing, and…

LB

Lucía Berenguer

Cold Chain Correspondent

Lucía Berenguer covers stability and cold chain: lyophilised versus solution, mean kinetic temperature, what actually…

Sunniva Ørstavik

International Correspondent, Europe

Sunniva Ørstavik covers European reimbursement: which countries pay, at what price, under what restriction, and how…

DR

Delphine Ruzek

Contributing Writer, Explainers

Delphine Ruzek writes the Journal’s ground-floor explainers: the ones that assume the reader has heard a drug name on…

MT

Mei-Lin Tsou

International Correspondent, East Asia

Mei-Lin Tsou covers manufacturing and trade across East Asia: who is building capacity, who is buying protected amino…

SA

Salomé Adeyemi

Staff Writer

Salomé Adeyemi covers the body-composition question: what happens to lean mass on a rapid weight-loss trajectory, what…

HO

Harriet Oduya

Data Editor

Harriet Oduya builds the Journal’s datasets and checks its arithmetic. She is the reason the Journal reports both the…

ES

Evander Sittig

Staff Writer

Evander Sittig covers freight, customs and the grey channel: how a parcel moves, where it stops, what a declaration…

NH

Noor Haddadin

Supply Chain Editor

Noor Haddadin traces peptides backwards: from the vial to the packager, the packager to the synthesis house, the…

TL

Teodor Lindqvist

Regulatory Reporter

Teodor Lindqvist covers the regulatory picture: compounding law, shortage declarations, import enforcement, the…

PN

Perpetua Nwachukwu

Contributing Writer, Laboratory Medicine

Perpetua Nwachukwu is a chemical pathologist. She writes the Journal’s bloodwork coverage: what a panel measures, what…

Also filed

the rolling newsroom, June 2025