European And US Vaccine Stocks Are Under Pressure - Here's WHy

Some large European and U.S. vaccine maker stocks have fallen in reaction to Robert F. Kennedy Jr.’s nomination to lead the Department of Health and Human Services.

Kennedy has been known to be against vaccines and has a track record of making false claims about vaccines, including the debunked idea that they cause autism. Scientific studies have debunked this theory.

Also, given his critical stance on mainstream medical practices and vaccines, U.S. Food and Drug Administration (FDA) and National Institutes of Health (NIH) employees are worried about Kennedy being in charge.

Kennedy, who received Trump’s blessing to “go wild on health,” has stated intentions to overhaul various aspects of the federal health agencies.

In a post on social media, Kennedy said, “Together we will clean up corruption, stop the revolving door between industry and government, and return our health agencies to their rich tradition of gold-standard, evidence-based science. I will provide Americans with transparency and access to all the data so they can make informed choices for themselves and their families.”

On Friday, the World Health Organization also defended vaccines describing them as “absolutely critical” to global health, adding that many people alive today would not have survived childhood without them.

European vaccine player stocks declined, including GSK Plc GSK, Valneva SE VALN, AstraZeneca Plc AZN, BioNTech SE BNTX, and Sanofi SA SNY.

GSK stock fell after the company reported lower third-quarter sales, which was impacted by an 18% decline in vaccine sales.

COVID-19 vaccine players Moderna Inc MRNA, Pfizer Inc PFE, and BioNTech stock gained when the third quarter earnings surpassed estimates on increased vaccine demand.

Other vaccine players’ stocks that are down include Merck & Co Inc MRK and Inovio Pharmaceuticals, Inc INO.

Price Action: GSK stock is down 3.88% at $33.06, BNTX stock is down 5.18%, VALN stock is down 4.24%, AZN stock is down 2.08%, MRK stock is down 3.28%, INO stock is down 9.85% at last check Friday.

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