Shares of vaccine makers tumbled Friday morning after President-elect Donald Trump picked Robert F. Kennedy Jr., a widely known vaccine skeptic, to lead the Department of Health and Human Services.
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Moderna (MRNA) stock skidded 2.3% to 38.85, adding onto a 5.6% dive that started late Thursday after the news first broke. Novavax (NVAX) stock inched down 1.5%, while BioNTech (BNTX) shares lost 3%. Shares of the Covid vaccine makers both fell 7% on Thursday. Pfizer (PFE) stock also took a hit, dipping 1.3% following a 2.6% tumble after the initial news.
Trump had previously said he would allow Kennedy to “go wild on health care.” In a post on X, the platform previously known as Twitter, he said Kennedy would work to ensure all Americans are “protected from harmful chemicals, pollutants, pesticides, pharmaceutical products and food additives that have contributed to the overwhelming Health Crisis in this Country.”
“Mr. Kennedy will restore these Agencies to the traditions of Gold Standard Scientific Research, and beacons of Transparency, to end the Chronic Disease epidemic, and to Make America Great and Healthy Again!” he said.
While vaccine stocks took a beating, shares of companies tied to psychedelics saw a list. Dollar stock Atai Life Sciences (ATAI) jumped 8% to 1.48. Incannex Healthcare (IXHL) rose 6.8% to 2.50, while Compass Pathways (CMPS) advanced 5.9% to 5.18.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
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