Vaccine maker stocks tumble after Trump picks RFK Jr. for health secretary

Shares of leading vaccine manufacturers dropped significantly after an announcement that Robert F. Kennedy Jr. would be the next Secretary of the Department of Health and Human Services. In response to the reports of this choice, Moderna's stock fell by up to 6%, and Pfizer saw a nearly 2% decrease. Additionally, Novavax, known for its protein-based Covid-19 vaccine, experienced a decline of about 6%.

Kennedy is widely recognized as an anti-vaccine advocate, consistently spreading misinformation about vaccines' safety and effectiveness. He pledged to study vaccine safety and efficacy but assured that vaccines would not be removed from the public's reach. 

Among other affected companies, German BioNTech saw a 7% decrease, and British GSK fell 2%. U.S. vaccine companies have faced challenges due to reduced demand since the pandemic's height; Pfizer's stock has dropped 11%, and Moderna's by 46% in the past year. Pfizer's revenues soared during the pandemic, with substantial sales from its Comirnaty Covid-19 vaccine and Paxlovid antiviral pill, but expectations for Covid-related sales were eventually slashed as public health agencies accumulated sufficient vaccine stockpiles.

Following the official announcement, the stocks experienced additional declines. The role of HHS is emphasized as essential in safeguarding Americans from harmful substances contributing to the health crisis in the country.