The Food and Drug Administration is about to decide whether a scientific word can become a regulatory loophole.

On July 23 and 24, the FDA’s Pharmacy Compounding Advisory Committee is scheduled to consider whether several peptides should be added to the list of bulk drug substances that may be used in pharmacy compounding. That sounds technical. It is not. The decision could help determine whether a fast-growing wellness market is brought under disciplined medical oversight or whether compounding becomes a back door around the ordinary drug-approval process.