Robert F. Kennedy Jr. in Phoenix on August 23, 2024.
Thomas Machowicz | Reuters
Shares of vaccine makers fell Thursday as President-elect Donald Trump nominated Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services.
Shares fell in the final hour of trading as reports emerged about Trump's expected election. modernShares of closed more than 5% lower on Thursday, shares of Novavax fell more than 7% and PfizerShares finished more than 2% lower.
Actions of BioNTechThe German pharmaceutical company that helped develop a Covid vaccine with Pfizer closed with a drop of more than 6%. British drug manufacturer GSKwhich makes flu vaccines and several other vaccines, closed about 2% lower.
Shares of those companies fell further in extended trading when Trump confirmed his election in a post on his Truth Social platform.
Health policy experts have said a second Trump term could allow Kennedy to ramp up anti-vaccine rhetoric, which could deter more Americans from getting Covid shots and routine immunizations that for decades have saved millions of lives and prevented debilitating diseases.
Pfizer, Moderna and Novavax are still reeling from falling Covid vaccination rates in the US, which have hit their profits over the past two years.
Kennedy's history as a vaccine skeptic is extensive. It has long made misleading and false claims about the safety of the shots, such as claiming they are linked to autism, despite numerous studies dating back decades that debunk the association.
Kennedy is the founder of the nonprofit Children's Health Defense, the best-funded anti-vaccine organization in the country.
