Investors cautioned that Donald Trump’s appointment of Robert F. Kennedy Jr. as US Health Secretary may provide fresh difficulties for the industry, which caused shares of vaccine manufacturers and healthcare companies worldwide to plummet on Friday.
Kennedy has vowed to exploit his reputation as a vaccination skeptic to take aim at “Big Pharma,” if this is true.
The industry saw a sell-off as a result of the announcement. Shares of UK-listed companies AstraZeneca and GSK fell 2% or more in early trading, while shares of Pfizer and Moderna fell more than 5% in the US.
Despite concerns about how the new administration may follow through on its threats, Russ Mould, investment director at AJ Bell, said the selection had “spooked” shareholders.
