Vaccine makers’ stocks plummeted after Trump nominated RFK Jr. as health secretary, triggering fears over vaccine safety amidst Kennedy’s anti-vaccine history. Moderna and Pfizer experienced significant losses, reflecting investor concerns about future regulations and public trust. With demand waning from earlier pandemic peaks, stakeholders are left grappling with a precarious market landscape.
The announcement of Robert F. Kennedy Jr. as the Health Secretary pick by President-elect Donald Trump sent shockwaves through the stock market, especially impacting vaccine manufacturers. As the clock ticked toward the market’s close, shares of Moderna and Pfizer slipped significantly, with Moderna plummeting nearly 6% and Pfizer following with a 2% drop. Additionally, Novavax stumbled downwards by nearly 6%, reflecting the fear that Kennedy’s controversial stance on vaccines could usher in turbulent waters for these companies. Kennedy, a vocal critic of vaccines, has long propagated unfounded theories questioning their safety and efficiency. Despite claiming his intent to study vaccine safety, he reassured the public that he wouldn’t strip anyone of their access to vaccines. This mere statement combined with his historical skepticism ignited fears among investors, prompting further declines in other vaccine-related stocks such as BioNTech and GSK. The landscape for vaccine manufacturers had already shifted since the peak pandemic days, marked by decreasing demand. Pfizer and Moderna, in particular, watched their stock values shrink over the past year; Pfizer fell 11%, while Moderna’s stocks took a staggering hit of 46%. Investors had a front-row seat to the dramatic decline from the stellar sales driven by their Covid-related products in 2022 to a much quieter 2023, as public health entities now had an ample supply of vaccines.
The vaccine industry has seen its share of highs and lows in the wake of the Covid-19 pandemic. Initially riding high as vaccines became essential tools in combating the virus, the sector has faced a downward turn due to diminishing demand as vaccination rates plateaued. With former President Trump now leading the charge and appointing a controversial figure like Kennedy, fears about regulations and public trust in vaccines are spreading like wildfire through the market.
The stock prices of vaccine manufacturers are being adversely affected by Trump’s selection of RFK Jr. as health secretary, creating an atmosphere of uncertainty around vaccine safety and public health policies. Investors are wary of regulatory changes that may come with Kennedy’s appointment, reflecting deeper fears about the future demand and public confidence in vaccines. As the aftershocks of this announcement unfold, the vaccine market must brace itself for potentially stormy weather ahead.
Original Source: www.cnn.com
