Immediately following US President Donald Trump’s election victory, several major pharmaceutical companies have experienced declines in their stock prices. 

Eli Lilly and Co. (LLY) saw its shares drop by 4.3%, while Pfizer Inc. (PFE) stock decreased by 2.6%. 

Moderna Inc.’s stock also fell by 2.9%. BioNTech SE (BNTX), the German company that collaborated with Pfizer on a COVID-19 vaccine, saw its shares fall by 4.6%.

While the stock market saw optimism in sectors like energy and defense under Trump’s anticipated pro-business policies, healthcare stocks, especially those heavily involved in COVID-19 products, were hit with uncertainty.  

The dip is likely related to the fact that Trump has suggested appointing Robert F. Kennedy Jr., who joined his 2024 presidential campaign in August, to a key role overseeing various public health agencies.

This could include the Department of Health and Human Services (HHS), the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), the National Institutes of Health (NIH), and the U.S. Department of Agriculture. 

Kennedy’s crusade against Big Pharma

Kennedy has repeatedly claimed that vaccines are potentially unsafe and harmful, particularly suggesting a link between vaccines and autism. He’s long-accused pharmaceutical companies and public health agencies of concealing or manipulating data about vaccine safety.

He’s also argued that regulatory agencies such as the FDA and CDC are overly influenced by the Big Pharma.

In particular, RFK has been a vocal critic of the legal protections granted to vaccine manufacturers since the 1980s. 

Since the 1986 National Childhood Vaccine Injury Act gave liability protection to big Pharma, the number of vaccines given to children in America has doubled. In 1985, the CDC’s recommended vaccination schedule for children included around 7-8 vaccines, primarily for diseases such as diphtheria, tetanus, pertussis (DTP), polio, measles, mumps, rubella (MMR), and hepatitis B​. As of 2024, the CDC recommends about 20-21 vaccinations by the time a child turns 18.

“I’m not anti-vaccine:” RFK Jr.

Following Trump’s win, RFK Jr. stated that he’s “not going to take away your vaccines.”

“What I’m gonna do is make sure that Americans have good information, about their food and medicines, and then leave the choice to them,” he said.