From CNBC: 2025-03-31 10:13:00

Shares of major vaccine makers dropped after FDA vaccine official Peter Marks resigned in protest of Health and Human Services Secretary Robert F. Kennedy Jr.’s views on immunization. Moderna and Novavax shares fell by more than 11% and 6%, respectively, while SPDR S&P Biotech ETF dropped nearly 5%.

Marks’ departure has raised concerns about quick approval and promotion of critical shots. Wall Street analysts fear FDA’s mission of ensuring safe and effective treatments could be undermined, putting pressure on the struggling biotech sector. Pfizer, with broader businesses, lost about 2% in early trading.

In his resignation letter, Marks criticized Kennedy’s “misinformation and lies” about immunization, linking a growing measles outbreak in Texas to undermining confidence in vaccines. Kennedy’s actions, promoting unproven treatments and downplaying vaccine importance, have raised concerns among public health experts and sparked a study into debunked vaccine-autism links.

Analysts at BMO Capital Markets see Marks’ departure as a significant negative for the BioPharma and Biotech sectors, highlighting the importance of FDA’s independence for efficient functioning. The impact on biotech and pharmaceutical stocks will depend on who replaces Marks at the FDA and whether Republicans start to lose patience with Kennedy’s approach.



Read more at CNBC: Vaccine stocks fall after FDA’s Peter Marks resigns over RFK Jr.