Forbes November 20, 2024
President-elect Trump has announced his plans to appoint two key people to healthcare roles in his upcoming Administration: Robert F. Kennedy, Jr. for Secretary of Health and Human Services last Thursday, and Mehmet Oz for administrator of the Centers for Medicare and Medicaid Services on Tuesday. Biopharma stocks, particularly those of vaccine makers, fell on Thursday following the RFK Jr. pick, largely owing to the many false claims that he has made over the years about vaccines.
Analysts at Morgan Stanley noted this week that biopharma stocks have been underperforming since the election, and that this sector tends to underperform during times of uncertainty about healthcare policy. Stocks fell during the early 1990s when then President Clinton’s healthcare plan was...
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