Vaccine makers end the year in red

Vaccine stocks conclude 2025 with losses, with Pfizer PFE.N, Moderna MRNA.O, Novavax NVAX.O and BioNTech 22UAy.DE, BNTX.O all in red

U.S. vaccines have been under pressure since vaccine-skeptic Robert F. Kennedy Jr. became health secretary and has worked to reduce the country's reliance on the interventions

Shares of Pfizer have fallen 5.8% this year; shares of the company have dropped more than 50% since early 2023 as demand for COVID-19 vaccines and treatments waned

Shares of Moderna are down 26.9% this year, on track for a fourth straight year of losses

Kennedy, a longtime vaccine skeptic, has made far-reaching changes to the U.S. vaccine policy, which include dropping a long-standing recommendation for the hepatitis B birth dose, cutting funding for mRNA vaccines and, contrary to established science, linking vaccines to autism

Shares of Novavax have fallen 16.4% this year after rising 67.5% in 2024; the company pushed back its profitability target by a year to 2028

U.S. listed shares of BioNTech are down 16.4% this year after rising about 8% in 2024