Shares of vaccine companies experienced a decline on Tuesday following a Senate panel’s decision to move forward with Robert F. Kennedy Jr.’s nomination to head the Department of Health and Human Services to the full chamber. The committee’s vote, which took place at around 10:30 a.m. ET, resulted in a 14 to 13 decision in favor of advancing Kennedy, with the vote falling along party lines.
In response to the news, Moderna’s stock dropped by approximately 2%, while BioNTech’s shares fell nearly 2%. Novavax also saw a decrease of more than 2% in its stock value, and GSK experienced a slight decline. Despite reporting fourth-quarter results that exceeded expectations, Pfizer’s stock fell by over 1%. Initially, their shares experienced more significant drops following the Senate committee’s decision but later recovered some of the lost ground.
Kennedy, aged 71, is known for his skepticism towards vaccines and has made unfounded claims linking them to autism, despite numerous studies disproving this connection. However, during his Senate confirmation hearings the previous week, Kennedy asserted that he is not against vaccines. He is the founder of the nonprofit organization Children’s Health Defense, which is the most well-funded anti-vaccine group in the United States. In an ethics agreement with the government last month, Kennedy stated that he had ceased his roles as chairman and chief legal counsel for the organization as of December.
If approved by the Senate, Kennedy would be responsible for overseeing federal health agencies that regulate vaccines and other medications. Some health policy experts have expressed concerns about Kennedy potentially using his new position to promote anti-vaccine views and dissuade Americans from receiving recommended vaccinations, particularly at a time when vaccination rates, especially among children, are already declining.
During a conference in January, Pfizer CEO Albert Bourla criticized Kennedy’s anti-vaccine stance, stating that it contradicts the beliefs of the company, regulators, and the medical and scientific community.
