An hour before the market closed Thursday, as news reports of Trump’s choice began trickling out, Covid-19 vaccine maker Moderna dipped as much as 6%, and Pfizer fell almost 2%. Novavax, which created a protein-based Covid-19 vaccine, fell almost 6%. Kennedy has been one of the country’s most prominent anti-vaccine conspiracy theorists for years and has frequently spread falsehoods about the safety and efficacy of vaccines.
While Pfizer revenue and profits soared during the peak of the pandemic – generating nearly $57 billion in combined sales in 2022, thanks largely to its Comirnaty Covid-19 vaccine and Paxlovid antiviral pill – the boom subsided by early 2023, and the company slashed its expectations for Covid-related sales. By then, public health agencies already had an effective stockpile of vaccines to treat patients. After Trump made the announcement official, the stocks fell further.
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