Shares of popular vaccine makers fell on Thursday after President-elect Donal Trump announced his decision to nominate vaccine skeptic Robert F. Kennedy Jr. to run the Department of Health and Human Services (“HHS”).
Though this nomination was officially confirmed on Trump’s social media accounts after market close, news reports of RFK Jr. having a prominent role in federal health agencieshave been circulating ever since Trump won the elections.
In a social media post, Kennedy accepted the offer and committed to advancing Trump’s vision to ‘Make America Healthy Again.’
In response to the news, shares of Moderna MRNA were down nearly 6%. Pfizer PFE stock fell almost 3%. Shares of Novavax NVAX and BioNTech BNTX also lost 7% each. Shares of European drugmakers GSK and Sanofi also lost 2% and 3.4%, respectively.
Robert F. Kennedy Jr. is one of the most prominent anti-vaccine activists in the country and has been called out for spreading misinformation and false propaganda on vaccines. He is also the founder of the non-profit anti-vaccine organization Children’s Health Defense.
Investors have expressed concerns about the falling COVID-19 vaccination rates in the country, which has negatively impacted the top and bottom lines of Moderna, Pfizer, BioNTech and Novavax over the last couple of years.
Nominating RFK Jr. as the head of HHS might allow him to advance his anti-vaccine theories and even bring some major changes in public health policies. This could potentially discourage more American citizens from getting routine shots for COVID-19 and influenza. This could have a further denting impact on the financials of these vaccine-makers.
Kennedy was a candidate for the Presidential election this season before dropping out of the race and extending his support to Trump.
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