Newscasts - Drugmaker shares sink after key FDA official ousted

Solid Biosciences

31/03/2025 18:45

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Source: 'Reuters - Business videos'

Description: Shares of U.S. drugmakers fell on Monday after reports that the Food and Drug Administration's top vaccine official, Peter Marks, had been forced to resign, the most high-profile exit at the regulator as the Trump administration undertakes an overhaul of federal health agencies. Lisa Bernhard has more.

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Video Transcript:

Shares of US drugmakers fell on Monday after reports that the Food and Drug Administration's top vaccine official had been forced to resign. The ouster of Dr. Peter Marks, who played a key role developing COVID-19 vaccines during President Trump's first term marks the most high-profile exit at the FDA. His departure comes amid a shakeup at federal health agencies by Health and Human Services Secretary Robert F. Kennedy Jr, who has a history of sowing doubts about the safety and efficacy of vaccines. In his resignation letter, first reported Friday by The Wall Street Journal, Marks criticized Kennedy's views on vaccines. While a replacement is still unclear, one analyst told Reuters that Marks' potential successor could have similar views on vaccines as Kennedy's. Marks did not respond to a request for comment on Monday. The pharma and biotech sector has been under pressure this year on worries that Trump's extensive tariff policies will include drugs and on Kennedy's plans to revamp federal health agencies. Vaccine-focused companies such as Novavax and BioNTech fell about 7% Monday, while gene therapy developers including Taysha Gene Therapies, Solid Biosciences and Sarepta Therapeutics slumped between 15% to 30%.