Shares in vaccine makers such as Moderna Inc (NASDAQ:MRNA, ETR:0QF). and Pfizer Inc (NYSE:PFE, ETR:PFE). declined on Thursday following news that President-elect Donald Trump has named vaccine sceptic Robert F. Kennedy Jr. as his choice to lead the United States Department of Health and Human Services (HHS).
BioNTech SE ADR and Novavax Inc dropped around 7%, with Moderna Inc (NASDAQ:MRNA, ETR:0QF) down 6%, Vaxcyte Inc dropping 4%, and Pfizer Inc (NYSE:PFE, ETR:PFE) sliding by 3%.
The declines began after a Politico report indicated Trump was likely to announce Kennedy’s appointment. Trump later confirmed the selection in a social media post after the market closed.
“For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation and disinformation when it comes to Public Health,” Trump wrote.
“The Safety and Health of all Americans is the most important role of any Administration, and HHS will play a big role in helping ensure that everybody will be protected from harmful chemicals, pollutants, pesticides, pharmaceutical products, and food additives that have contributed to the overwhelming Health Crisis in this Country. Mr. Kennedy will restore these Agencies to the traditions of Gold Standard Scientific Research, and beacons of Transparency, to end the Chronic Disease epidemic, and to Make America Great and Healthy Again!”
Analysts downplay impact
Some analysts, however, downplayed the potential impact of Kennedy’s appointment. Raymond James analyst Chris Meekins commented: “There are rules, regulations, laws, etc, that will limit what Kennedy can do, to some degree.”
Critics responded sharply, with Public Citizen co-president Robert Weissman stating that Kennedy “shouldn’t be allowed in the building at the Department of Health and Human Services (HHS), let alone be placed in charge of the nation’s public health agency”.