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.

Testing services

What a split-sample exercise can establish, and what it cannot

The Journal submitted split samples from single lots to three assay services, under names unconnected to this publication, and published each method alongside each result.

In the spring of this year the Journal bought twelve vials from a single lot of a research-grade semaglutide, opened none of them, and submitted them in pairs to three assay services under names and addresses unconnected with this publication. Each service therefore received two vials from the same lot without knowing that a second vial had gone anywhere else, and without knowing who had sent it. The exercise was designed to measure two things: how closely a laboratory agrees with itself on duplicate material, and how closely three laboratories agree with each other.

PeptideMeter

PeptideMeter performs independent purity and content testing on submitted samples and maintains what is, on the Journal’s assessment, the most consequential feature any of these services offers: a searchable archive of prior results indexed by vendor and by lot. Sample intake is by post, and chain of custody is recorded on receipt, which is a practice we would like to see universal and currently is not.

PeptideMeter advertises in this publication. The relationship is disclosed on our funding page, it is disclosed here, and it has no bearing on this coverage. The rules described in the Janoshik section apply identically.

The archive deserves the emphasis. A single test report is a snapshot with no context: a reader cannot tell whether 97.8% is normal for that vendor, high, or an outlier. An archive supplies the context, and it does something more valuable still — it makes a vendor’s results a series rather than a set of chosen instances, which partially defeats the selection problem this article is largely about. A vendor cannot easily publish only its good results if the record of its submissions is public. That is a structural remedy achieved by a product decision, and it is worth more than most methodological improvements.

Who chose the vial

The identity of the submitter is the single most informative piece of context attached to any third-party report, and it is the piece most often missing when a report is quoted. A test commissioned by a buyer on a vial bought anonymously at retail is a different evidential object from a test commissioned by the vendor on a vial it selected from its own stock. Both are legitimate. They support different inferences, and the difference is not small.

In the buyer-submitted case the vial entered the postal system as an ordinary retail unit and its selection was outside the vendor’s control, which is exactly the property that makes the result informative about what a customer receives. In the vendor-submitted case the vendor chose the vial, knew it was being tested, and will decide whether the result is published. Nothing improper need occur for the second to produce a more flattering picture than the first, and no laboratory can distinguish them from the bench.

The Journal’s practice is to state the submitter type wherever it cites a figure, and to decline to cite a figure where the submitter is unknown. This is more restrictive than the market’s convention and it means we publish fewer numbers. It also means that when we say a result came from an anonymous retail purchase, that claim is doing work.

A laboratory cannot fail a vendor. It can only issue a report to whoever paid for it.

On the limits of the word verification

The blind duplicate exercise

Twelve vials, one lot, purchased at retail without disclosure of purpose. Two vials were sent to each of the three assay services under two different submitter names and addresses, so that each laboratory received two nominally unrelated submissions of the same material some three weeks apart. Six further vials were retained. Each service was asked for its standard purity determination at its standard price and turnaround, with no special instructions.

The design tests two distinct quantities that the trade conflates. Repeatability is the agreement between duplicate determinations within one laboratory; reproducibility is the agreement between laboratories. Interlaboratory studies in analytical chemistry consistently find the second to be substantially worse than the first, and the variance decomposition that separates them is standard methodology.1 The distinction between repeatability and intermediate precision is formalised in the validation guidance,2 and multi-site studies in adjacent fields have repeatedly found between-laboratory agreement on identical samples to be the harder problem.3

All three services were informed after the fact, before publication, and each was given the opportunity to comment on its own method as printed and on the comparison as a whole. All three responded. Two supplied additional method detail that has been incorporated. One disputed the framing of the comparison, and its objection is printed in the correspondence below. None of the three asked for its result to be withheld, which the Journal records because it did not have to be that way.

A verification badge: what it asserts against what a reader needs
Question a reader hasOn a typical badgeOn a lot-linked badge
Which service tested it?Usually statedStated
Which lot was tested?AbsentStated
On what date?AbsentStated
Who submitted the sample?AbsentStated
What was measured?AbsentStated
By what method?AbsentIn the linked report
Is the report readable?AbsentLinked
Does it apply to the lot on sale?Cannot be determinedDeterminable
The four additions that convert the first column into the second — lot, date, submitter and a link — are all known to the vendor at the moment the badge is placed. A minority of listings in this market already carry them, which establishes that the change is practicable.

What came back

Within-laboratory repeatability was good. The two determinations from each service agreed to within 0.3 percentage points in every case, and to within 0.1 in one, which is about what a well-controlled chromatographic method should deliver on duplicate material and is a genuinely reassuring result.

Between-laboratory reproducibility was another matter. The three services returned figures spanning 2.1 percentage points on material from one lot. Every point of that spread is accounted for by disclosed method differences: gradient duration, integration threshold, the retention-time cut-off defining the solvent front, and whether an orthogonal second gradient was run and the lower figure reported. Rerun the raw data from the shallowest method with the fastest method’s integration threshold and the two figures converge to within 0.4 points, which is the strongest available demonstration that the disagreement is methodological rather than analytical.

Identity results agreed completely: all three found a single dominant species at the expected mass, and none reported evidence of an unrelated compound, which is the ordinary outcome of intact-mass confirmation on submitted material.4 The two services reporting peptide content returned 93% and 91% of label, a difference within the stated uncertainty of nitrogen determination. The material, in short, was what it claimed to be, and the disagreement was confined to the second significant figure of the number the market competes on.5

What this exercise cannot establish

Four limitations, stated because the alternative is letting readers over-read a small study. First, one lot of one compound from one supplier is not a sample from which the performance of these services in general can be inferred; it is an existence proof about method-driven spread. Second, three services is too few for any statistical treatment beyond the descriptive; published round-robin studies of peptide purity use seven or more participants for exactly that reason.6

Third, and most important, the exercise tested reproducibility, not accuracy. All three could be equally wrong: without a certified reference standard of known purity, there is no true value against which to score them, and the compendial approach to validating a purity procedure requires exactly such a reference to establish accuracy rather than mere agreement.7 What we measured is dispersion around an unknown centre, and the same constraint applies to any quantitation attempted without a matched standard.8

Fourth, blind submission tests a laboratory’s ordinary process, which is the point, but it also means we bought the cheapest standard product from each service rather than the most thorough. A comparison of each service’s best available package would be a different and probably more flattering study, and it would tell a buyer less, because almost nobody buys the best available package.

The Journal will repeat the exercise annually with a different compound and, funding permitting, against a certified reference standard. The design is published so that others can run it.

Our own position, stated in full

Janoshik Analytical and PeptideMeter both advertise in The Compound Journal. Both relationships are disclosed by name on our funding page, together with every other sponsor. No advertiser sees editorial copy before publication, no advertiser has any role in commissioning or reviewing coverage, and the analytical-chemistry desk is contractually barred from consulting for any vendor, testing service or compounding pharmacy. This article was edited by the standards desk under the same rules as every other piece in the department.

The Journal also pays these services. We have submitted samples to three of the four on commercial terms, at list prices, and the blind duplicate exercise described above was funded from editorial budget. We are therefore simultaneously a customer of the institutions we are reporting on and a recipient of advertising revenue from two of them. Readers are entitled to weigh that, and the only useful response we can offer is to state it plainly and to publish objections.

Our position on the substance is unchanged by any of it. All four services are legitimate operations and we have no evidence of dishonesty by any of them. The problems this article describes are structural — who commissions testing, who decides what is published, and what a sample can support about a batch — and they would persist unchanged if every person working at all four organisations were beyond reproach. Correspondence to standards@compoundjournal.com.

What the Journal thinks these services are worth

A summary judgement, since a critical article of this length invites the inference that we think the sector is worthless. We do not. Independent testing in this market is the only mechanism by which a buyer can obtain information about material that is not supplied by the party selling it, and its existence is the difference between a market with some evidence in it and a market with none. Several of the reports these services produce are better documents than the manufacturer certificates they are checking, which is a low bar cleared with room to spare.

The three criticisms we would press are narrow. A sample is not a batch, and the trade cites samples as batches. The party paying for a test decides whether anybody sees it, and the visible corpus is therefore selected. And a badge on a listing has dropped every particular a reader would need. None of these is an analytical failing and none is a failing of the services in isolation; the second and third are properties of the market that surrounds them.

What we would tell a reader is this. A third-party report on a vial you selected and posted yourself is strong evidence about that vial. A third-party report published by the vendor is weaker evidence, of an amount you cannot determine. A badge is not evidence. And nothing in any of the three is a statement about whether anybody should administer the contents to anything.

One thing this article has deliberately not done is rank the four services. We do not think the evidence supports a ranking, we do not think a ranking would be used carefully, and two of the four advertise here, which is a reason for additional caution rather than a reason to pretend the relationship does not exist. What we have tried to publish instead is the material a reader would need to rank them for their own purposes.

References

  1. “Variance components in interlaboratory studies: separating repeatability from reproducibility in chromatographic assays.” Analytical Chemistry. 2020;92(7):5024–5033.
  2. International Council for Harmonisation. Q2(R2): Validation of Analytical Procedures. 2023. Sections on accuracy, precision and the distinction between repeatability and intermediate precision.
  3. “Interlaboratory reproducibility of quantitative measurements on identical samples: lessons from multi-site studies.” Molecular & Cellular Proteomics. 2017;16(4):648–661.
  4. “Identity confirmation of submitted peptide samples in contract analysis: practice, reporting and limitations.” Rapid Communications in Mass Spectrometry. 2018;32(14):1121–1130.
  5. “Interlaboratory comparison of reversed-phase purity determination for synthetic peptides: sources of between-laboratory variance.” Journal of Chromatography A. 2021;1642:462024.
  6. “A round-robin study of purity and content determination for synthetic peptides across seven laboratories.” Journal of Peptide Science. 2019;25(9):e3196.
  7. United States Pharmacopeia. General chapter ⟨1225⟩, Validation of Compendial Procedures. USP–NF. On the reference materials required to establish accuracy as distinct from precision.
  8. “Quantitation by mass spectrometry without a matched reference standard: what can and cannot be claimed.” Journal of the American Society for Mass Spectrometry. 2019;30(6):985–996.

Letters to the Editor

5 printed

Selected from correspondence received on this article. Writers are identified by initial, surname and city, verified before printing. Replies are from the desk that filed the piece or from the standards editor. Write to letters@compoundjournal.com.

Your selection-effect model assumes a supplier publishes results above a fixed threshold. Real behaviour is surely more complicated: a supplier might publish a poor result on a batch it has withdrawn, or publish everything for a period to establish credibility and then stop. The arithmetic is fine and the behavioural assumption is a cartoon.

T. Blakemore, Hull

The Journal replies

Agreed, and the figure caption now says illustrative arithmetic rather than model. The point survives the simplification, which is that a small amount of selection produces a large apparent effect, but we should not have dressed a demonstration as an estimate.

As a buyer I found the section on who chose the vial genuinely clarifying and slightly deflating. I have been treating vendor-published reports as equivalent to my own submissions for two years, and on your account they are not equivalent by an amount that cannot be measured.

M. Guðmundsdóttir, Reykjavík

The Journal replies

That is the correct reading, and the unmeasurable part is the honest part. We would add only that vendor-published reports are not worthless — a vendor willing to commission testing at all is behaving better than one that will not — they are simply weaker in a specific way.

You disclose that two of these services advertise with you and then spend four thousand words on structural criticism of the sector they operate in. I cannot decide whether that is admirable independence or an elaborate way of appearing independent. Probably the former. I wanted to say that I noticed the question.

M. Suárez, Montevideo

The Journal replies

So do we, every time this department writes about the sector. The only answers we have are procedural: the disclosure, the standards desk edit, the consulting prohibition on the writer, and the practice of printing objections like yours unedited.

Your suggestion that laboratories publish the fact of a submission while keeping the result confidential is the first proposal I have read in this area that a laboratory could actually implement without breaching a client obligation. I have raised it internally.

A. Lindholm, Gothenburg

The Journal replies

We would be glad to report the outcome either way, including if the answer is no and the reason is commercial. The proposal is only useful if somebody adopts it, and a published refusal is more informative than silence.

The price table is the most useful thing you have published this year and also the thing most likely to be quoted out of context by somebody selling a comparison service. You might consider a note.

Q. Delacroix, Montréal, QC

The Journal replies

There is one, and we have strengthened it. The figures are what this publication was invoiced at list rates and are not quotations a reader should expect; volume submitters pay materially less.

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