Vaccine Stocks Fall After Ousting of FDA's Vaccine Head

Published: 2025-03-31 10:20:08 ET SRPT

By Dean Seal

Shares of vaccine companies dropped after the Food and Drug Administration's top vaccine official was pushed out in a clash with Health and Human Services Secretary Robert F. Kennedy Jr.

Moderna's stock fell 13% to $27.18 in early trading while Novavax's stock slid 7% to $6.50. Shares of Vaxcyte sank 55% to $31.60 and shares of Sarepta Therapeutics slipped 7% to $65.71. Shares of Pfizer retreated 1.5% to $24.83.

The Wall Street Journal reported Friday that Dr. Peter Marks, who played a critical role in the first Trump administration's Operation Warp Speed to develop Covid-19 vaccines, stepped down after an HHS official gave him the choice to resign or be fired, according to people familiar with the matter.

"It has become clear that truth and transparency are not desired by the Secretary, but rather he wishes subservient confirmation of his misinformation and lies," Marks wrote in a resignation letter, referring to Kennedy.

The resignation takes effect on April 5.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

03-31-25 1019ET