Major Vaccine Makers' Stocks Plummet

(Patria) - Stocks of major vaccine manufacturers, including Pfizer and Moderna, plummeted on Friday after newly elected US President Donald Trump chose Robert F. Kennedy Jr. as his candidate for Secretary of Health and Human Services, Reuters reported.

The move has raised concerns about the future of public health policy, given Kennedy's history of promoting vaccine skepticism and criticizing the US Food and Drug Administration (FDA).

Kennedy, a vocal critic of vaccines, has vowed to overhaul the FDA. In a recent statement, he accused the agency of serving pharmaceutical companies and declared that the FDA's war on public health is nearing its end.

The announcement triggered a sell-off in vaccine stocks, with Pfizer falling over 3% and Moderna dropping more than 7% on Friday.

The SPDR S&P Biotech ETF is currently down nearly 4%. GSK and AstraZeneca are down 2% and 3%, respectively.

The Pharmaceutical Research and Manufacturers of America, a major industry lobbying group, stated in a release that it looks forward to working with the Trump administration to improve patient health.