Moderna, Lily, Novavax, and Pfizer stocks fall after Trump nominates RFK Jr. as health secretary

The Make America Healthy Again PAC is celebrating Kennedy Jr.’s nomination by President-elect Trump to run the HHS. Vaccine makers likely aren’t.

Shares in some of America’s largest drug manufacturers tumbled yesterday after President-elect Donald Trump announced Robert F. Kennedy Jr. as his pick for secretary of the Department of Health and Human Services (HHS). Kennedy Jr. is just the latest controversial cabinet nomination by Trump, but there’s a specific reason his appointment seems to be worrying some Big Pharma and biotech investors. Here’s what you need to know.