Vaccine maker stocks fall as Trump chooses RFK Jr. to lead HHS

Vaccine maker stocks fall as Trump chooses RFK Jr. to lead HHS


Independent presidential candidate Robert F. Kennedy Jr. makes an announcement on the future of his campaign in Phoenix, Arizona, U.S. August 23, 2024. 

Thomas Machowicz | Reuters

Shares of vaccine makers fell on Thursday as President-elect Donald Trump nominated Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services. 

The stocks fell in the final hour of trading as reports emerged about Trump’s expected pick. Moderna‘s stock closed more than 5% lower on Thursday, shares of Novavax fell more than 7% and Pfizer‘s stock ended more than 2% lower.

Shares of BioNTech, the German drugmaker that helped develop a Covid vaccine with Pfizer, closed more than 6% lower. British drugmaker GSK, which makes flu shots and several other vaccines, closed roughly 2% lower.

Shares of those companies dipped further in extended trading as Trump confirmed his pick in a post on his platform Truth Social.

Health policy experts have said that a second Trump term could allow Kennedy to elevate anti-vaccine rhetoric, which could deter more Americans from receiving Covid shots and routine immunizations that have for decades saved millions of lives and prevented debilitating illnesses.

Pfizer, Moderna and Novavax are still recovering from falling Covid vaccination rates in the U.S., which have dented their profits over the last two years. 

Kennedy’s track record as a vaccine skeptic is extensive. He has long made misleading and false statements about the safety of shots, such as claiming that they are linked to autism despite numerous studies going back decades that debunk the association.

Kennedy is the founder of the nonprofit Children’s Health Defense, the most well-funded anti-vaccine organization in the country.



Source

Air traffic control shortages add to U.S. flight delays
Business

Air traffic control shortages add to U.S. flight delays

The Hollywood Burbank Airport air traffic control tower stands on October 6, 2025 in Burbank, California. The Federal Aviation Administration (FAA) stated the airport currently has no air traffic controllers in its tower amid the ongoing federal government shutdown. Incoming flights are being delayed for over two hours, with control duties currently being handled by […]

Read More
What the government shutdown means for commercial real estate
Business

What the government shutdown means for commercial real estate

The sunset is reflected in the windows of the US Capitol as a man runs on the National Mall in Washington, DC, on October 1, 2025, the first day of the US federal government shutdown. Andrew Caballero-reynolds | Afp | Getty Images A version of this article first appeared in the CNBC Property Play newsletter […]

Read More
Gold prices keep rising, and jewelry companies are sounding the alarm
Business

Gold prices keep rising, and jewelry companies are sounding the alarm

Gold prices held steady on Thursday, hovering near the record high hit the day before, helped by expectations of further U.S. rate cuts and political uncertainty. David Gray | Afp | Getty Images Amid global economic turbulence, the prices of precious metals have been climbing higher and higher. The price of gold in particular has […]

Read More