Vaccine makers’ stocks went down on Thursday after it was announced that President-elect Donald Trump would be putting Robert F. Kennedy Jr. in charge of the U.S. Department of Health and Human Services. Kennedy Jr. is against vaccines and was a candidate for president in 2016.
BioNTech (BNTX -2.96%) and Novavax (NVAX -2.98%) both lost 7% of their value at the close of business, while Moderna (MRNA -9.33%) lost 6%. Pfizer PFE -4.55% fell 3% and Vaxcyte PCVX -5.69% fell 4%. A Politico story around 3:30 p.m. Eastern time said Trump was about to announce his choice of RFK Jr., which caused these stocks to drop significantly.
The president-elect then wrote about his choice on social media after the market closed.
Trump wrote, “For too long, the industrial food complex and drug companies have lied, spread false information, and tried to discredit the public health of the American people.”
“The safety and health of all Americans is the most important job of any administration. HHS will play a big part in helping to protect everyone from the dangerous chemicals, pollutants, pesticides, pharmaceuticals, and food additives that have made the current Health Crisis in this country so bad.” To stop the chronic disease epidemic and make America great and healthy again, Mr. Kennedy will return these agencies to the traditions of Gold Standard Scientific Research and shining examples of openness.
Few analysts think that RFK Jr. is a big threat to the healthcare business XLV -1.47%.
Raytheon James analyst Chris Meekins wrote in a note last week that the Kennedy son might not have “carte blanche to do what he wants.” “There are laws, rules, and other things that will somewhat limit what Kennedy can do.”
A progressive campaign group called Public Citizen slammed Trump’s move. Robert Weissman, co-president of Public Citizen, said in a statement that RFK Jr. “shouldn’t be allowed in the building at the Department of Health and Human Services (HHS), let alone be put in charge of the nation’s public health agency.”
