Big Pharma Stocks Plummet Following RFK Jr.'s Nomination to Health Secretary
Market Reaction to RFK Jr.'s Nomination
Stocks tied to Big Pharma have taken a hit since it was announced that Robert F. Kennedy Jr. has been nominated as the next Health Secretary. His background as a strong critic of Big Pharma is pivotal in this shift, with major implications for vaccine-related companies.
Impact on Major Pharmaceutical Companies
- Moderna: Dropped 5.62% on Wednesday, closing at $39.77.
- Pfizer: Fell 2.62%, closing at $26.02 by Wednesday's end.
- Novavax: Experienced a decline of 7.02%, ending the day around $7.15.
- BioNTech: Saw a decrease of 7.10%, closing lower the next day.
- GSK: Dropped 2.05%, closing at $34.39 on November 14.
The announcement has intensified discussions regarding RFK Jr.'s views on public health, including vaccine safety. His legal background, albeit not in medicine, fuels the controversy around his approach to health and medicine policies.
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