New York
CNN
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Shares of prominent vaccine makers plunged Thursday after President-elect Donald Trump dropped his choice of Robert F. Kennedy Jr. announced as the next Secretary of the Department of Health and Human Services.

An hour before the market closed on Thursday, as news reports of Trump’s choice began to trickle in, Covid-19 vaccine maker Moderna fell as much as 6%, and Pfizer fell almost 2%. Novavax, which created a protein-based Covid-19 vaccine, fell almost 6%.

Kennedy has been one of the most prominent anti-vaccine conspiracy theorists for years and has regularly spread falsehoods about the safety and efficacy of vaccines. Last week, Kennedy said he would “immediately” begin studying the safety and efficacy of vaccines, but vowed “not to take vaccines away from anyone.”

Other vaccine-related companies also felt the impact. German company BioNTech closed 7% lower, and British GSK fell 2%. U.S. vaccine companies have already struggled, thanks to reduced demand since the pandemic’s peak. Over the past year, Pfizer’s shares are down 11% and Moderna’s are down 46%.

While Pfizer’s sales and profits soared during the height of the pandemic — generating nearly $57 billion in combined sales in 2022, thanks in large part to the Comirnaty Covid-19 vaccine and antiviral pill Paxlovid — the boom tapered off in early 2023 and the company lowered its expectations. for Covid-related sales. By then, public health authorities already had an effective supply of vaccines to treat patients.

After Trump made the announcement official, stocks fell further.

“The safety and health of all Americans is the most important role of any government, and HHS will play a major role in helping ensure everyone is protected from harmful chemicals, pollutants, pesticides, pharmaceuticals and food additives that have contributed to the overwhelming health crisis in this country,” Trump said in a post on X.

CNN’s Kaitlan Collins, Kristen Holmes and Aaron Pellish contributed to this report.