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Impact of Robert F. Kennedy Jr.’s Possible Appointment on Vaccine Makers
Independent presidential candidate Robert F. Kennedy Jr. recently announced details regarding the future of his campaign in Phoenix, Arizona, on August 23, 2024.
According to reports circulating on Thursday, shares of several vaccine manufacturers experienced a decline following news that President-elect Donald Trump is likely to nominate Kennedy to direct the Department of Health and Human Services. This anticipated appointment raises significant concerns among health policy experts regarding the potential ramifications for vaccination rates in the United States.
In the final hour of trading, stocks of vaccine producers dropped sharply. Moderna saw a decrease of over 5%, while Novavax’s shares fell more than 7%. Pfizer’s stock closed down by more than 2%. Additionally, BioNTech, known for its collaboration on the Covid vaccine with Pfizer, saw its shares decline by more than 6%. British pharmaceuticals company GSK, which produces flu vaccines and other immunizations, also experienced a dip, closing roughly 2% lower.
The mixed performance of these companies continued in after-hours trading as investors reacted to the news about Kennedy’s potential role. Experts in health policy believe that if Kennedy takes office, he may amplify anti-vaccine sentiments, a scenario that could potentially hinder Americans’ willingness to seek out Covid-19 vaccinations as well as routine immunizations that have historically been vital in preventing a range of severe diseases.
Both Pfizer and Moderna, alongside Novavax, have been struggling to rebound from a sustained decline in Covid vaccination rates, resulting in reduced profits over the past two years. The implications of a Kennedy-led HHS could further complicate their recovery efforts.
Kennedy is widely recognized for his critical stance on vaccines, which has been marked by a history of making disputed claims regarding vaccine safety, including the unfounded assertion that vaccinations may be linked to autism—a theory long discredited by numerous scientific studies spanning decades.
Furthermore, Kennedy is the founder of the nonprofit Children’s Health Defense, which is viewed as the most financially robust anti-vaccine organization in the United States, enabling him to perpetuate his narrative against vaccination.
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