Trump nominates Robert F. Kennedy, Jr. as HHS Secretary, putting Big Pharma on notice
The news: President-elect Donald Trump nominated Robert F. Kennedy, Jr. as Secretary of the Department of Health and Human Services (HHS).
Kennedy still needs Senate confirmation before officially assuming the role of HHS secretary. However, there have been rumblings that Trump may be pushing for recess appointments to circumvent the confirmation process.
Why it matters: Kennedy is a noted vaccine skeptic who previously came under fire for promoting conspiracies alleging a link between vaccines and the development of autism in children. Should Kennedy become HHS secretary, he would oversee the federal public health system, Medicare and Medicaid policy, national healthcare research money, and food and drug regulation.
This could hold serious implications for various corners of the healthcare ecosystem, with Big Pharma chief among them.
Kennedy’s unorthodox views on vaccines could be bad news for pharma companies’ bottom lines.
Pharma companies that develop vaccines are already contending with a rise in vaccine hesitancy. If this eroding trust worsens, lower vaccination rates could further cut into company sales.
- Just 40% of US adults believe it’s extremely important for parents to have their children vaccinated—down from 58% in 2019, according to a July Gallup poll.
- Shares in vaccine makers Pfizer, Moderna, and BioNTech fell following Trump’s announcement.
Drug sales could take a further hit if Kennedy’s vow to ban pharma advertising on TV holds true.