Shares of vaccine makers experienced a decline on Thursday following President-elect Donald Trump’s nomination of Robert F. Kennedy Jr., a well-known vaccine skeptic, to head the Department of Health and Human Services. The stock prices dropped during the final hour of trading upon reports of Trump’s anticipated selection. Moderna’s shares closed over 5% lower, Novavax saw a decrease of more than 7%, and Pfizer’s stock ended more than 2% down.
BioNTech, the German pharmaceutical company that collaborated with Pfizer on a Covid vaccine, also witnessed a decline of over 6% in its stock price. British drugmaker GSK, known for producing flu shots and various vaccines, closed approximately 2% lower.
Following Trump’s confirmation of Kennedy’s nomination on his Truth Social platform, the shares of these companies experienced further declines in extended trading. Health policy experts have expressed concerns that Kennedy’s appointment could potentially amplify anti-vaccine sentiments, discouraging more Americans from receiving Covid vaccinations and routine immunizations that have been crucial in saving lives and preventing serious illnesses for many years.
Pfizer, Moderna, and Novavax are still grappling with the impact of reduced Covid vaccination rates in the U.S., which have affected their financial performance over the past couple of years. Kennedy has a history of skepticism towards vaccines, often making inaccurate and unfounded claims about their safety, including the debunked link between vaccines and autism that has been refuted by numerous studies spanning decades.
Kennedy is the founder of Children’s Health Defense, a well-funded anti-vaccine organization in the United States.
