Robert F. Kennedy Jr.’s Billion-Dollar Hit to Big Pharma

Published On Nov 15, 2024, 8:09 AM

Donald Trump has nominated Robert F. Kennedy Jr. to lead the Department of Health and Human Services, a decision that has already impacted the stock market by causing shares in major vaccine producers like Pfizer and Moderna to decline. Kennedy's appointment is significant as he is known for his controversial views on public health, particularly skepticism towards vaccines and health policies. His nomination suggests a potential shift in U.S. health policy and implies a challenge to established pharmaceutical practices.

Stock Forecasts

The decline in share prices for vaccine manufacturers is likely to continue as uncertainty grows over Kennedy's potential policies and their implications for the vaccine market. Investors may want to be cautious about holding positions in companies heavily reliant on vaccine sales until the regulatory landscape becomes clearer.

Similarly, Moderna could face headwinds as investor sentiment may remain cautious with increased scrutiny on vaccine mandates and overall public health strategies amidst Kennedy’s leadership. The company's reliance on mRNA technology and the current climate may lead to further declines in share prices.

Related News

The news outlet is pushing the Commission to release text messages between the E.U.’s top official and Pfizer as they negotiated a vaccine contract.

Vaccine stocks slid late Thursday as reports stated noted anti-vaccine politician Robert Kennedy Jr. will serve as the next head of the Department of Health and Human Services.

MRNA
NVAX

Robert F. Kennedy Jr., one of President-elect Donald J. Trump’s advisers on health, is taking aim at the agency’s oversight on many fronts.