Robert F. Kennedy Jr. in Phoenix on August 23, 2024.
Thomas Macewicz | Reuters
Shares of vaccine makers fell Thursday after President-elect Donald Trump nominated Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services.
Stocks fell in the final hour of trading as reports emerged about Trump's expected pick. ModernaAmazon shares closed down more than 5% on Thursday Novavax fell more than 7% and Pfizers.com stock finished down more than 2%.
shares BioNTechThe shares of the German pharmaceutical company, which helped develop a vaccine against Covid with Pfizer, closed down more than 6%. British pharmaceutical maker GlaxoSmithKlinewhich makes flu shots and several other vaccines, closed down about 2%.
Shares of those companies fell further in extended trading as Trump confirmed his choice in a post on his Truth Social platform.
A second Trump term could allow Kennedy to turn up the anti-vaccine rhetoric, which could deter more Americans from receiving Covid vaccines and routine immunizations that have for decades saved millions of lives and prevented debilitating diseases, health policy experts said.
Pfizer, Moderna and Novavax are still recovering from low coronavirus vaccination rates in the United States, which has dragged down their profits over the past two years.
Kennedy's record as a vaccine skeptic is extensive. He has long made misleading and false statements about the safety of the shots, such as claiming they are linked to autism despite numerous studies dating back decades that have debunked that link.
Kennedy is the founder of the nonprofit Children's Health Defense, the nation's most funded anti-vaccine organization.
