In a move that’s sending ripples through the stock market, shares of vaccine manufacturers took a hit on Tuesday. This downturn came after a Senate panel decided to push forward with Robert F. Kennedy Jr.’s nomination to helm the Department of Health and Human Services. The nomination now heads to the full Senate for consideration following a narrow committee vote that split along party lines, settling at 14 to 13 in favor of advancing Kennedy’s candidacy.
Kennedy’s nomination seemed to have spooked investors, with Moderna seeing its stock dip by about 6%, while BioNTech’s shares fell nearly 2%. Novavax wasn’t immune either, as its shares dropped by almost 1%, and GSK experienced a slight decrease. Even Pfizer, which had just reported stronger-than-expected fourth-quarter results, watched its stock decline by more than 1%. Initially, the stocks of these companies fell more sharply right after the vote but managed to claw back some losses as trading continued.
Although Kennedy is now 71, he remains a polarizing figure largely due to his past as a vocal vaccine skeptic. He has repeated claims, debunked through decades of research, alleging a link between vaccines and autism. During last week’s Senate hearings, Kennedy asserted he is not “anti-vaccine,” despite continued skepticism from many quarters.
He established Children’s Health Defense, a nonprofit that stands as the most financially robust anti-vaccine organization in the U.S. However, according to a government ethics agreement he signed last month, Kennedy stepped down from his roles as chairman and chief legal counsel for the group in December.
Should the Senate confirm him, Kennedy would assume a leadership role over federal health bodies that set standards for vaccines and medications. This prospect is raising red flags among health policy analysts who fear he might use his position to spread anti-vaccine narratives, especially at a time when vaccination rates are slipping, notably among children.
Albert Bourla, Pfizer’s CEO, voiced his concerns during a January industry conference, remarking that Kennedy’s anti-vaccine stance is at odds with the consensus of not just Pfizer, but also regulators and the broader medical and scientific communities.
