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An hour before the market closed today, as news reports about Trump’s election began to trickle in, COVID-19 vaccine maker Moderna was down as much as 6 percent and Pfizer was down nearly 2 percent.
Novavax, which created a protein-based vaccine against COVID-19, fell nearly 6 percent.
Kennedy was one of the nation’s most prominent anti-vaccine conspiracy theorists for years and often spread falsehoods about the safety and effectiveness of vaccines.
Last week, Kennedy said he would “immediately” begin studying the safety and effectiveness of vaccines, but promised not to “take vaccines away from anyone.”
Truth Social CEO tapped for intelligence role under Trump
Other vaccine-related companies have also felt the effects. The German company BioNTech closed 7 percent lower, and the British GSK fell 2 percent.
US vaccine companies are already struggling, thanks to reduced demand since the peak of the pandemic.
Over the past year, Pfizer shares fell by 11 percent, and Moderna shares fell by 46 percent.
While Pfizer’s revenues and profits soared during the height of the pandemic – generating nearly $US57 billion ($88.18 billion) in combined sales in 2022, largely thanks to the Comirnaty vaccine against COVID-19 and the antiviral pill Paxlovid – the boom faded in early 2023, and the company lowered its expectations for Covid-related sales.
By then, public health agencies already had an effective supply of vaccine to treat patients.
After Trump made the official announcement, stocks fell further.
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