Novo Nordisk's shares plummeted over 21% following disappointing results from the Phase 3 trial of its obesity drug CagriSema, which achieved a 22.7% average weight reduction, falling short of the expected 25%. Analysts have reacted with downgrades, citing safety concerns and underperformance compared to competitors. Despite achieving primary study objectives, the market's response reflects significant investor disappointment.
Health stocks fell sharply after President-elect Trump nominated vaccine skeptic Robert F. Kennedy Jr. to lead the Department of Health and Human Services. The S&P 500 Health Care Index dropped 1.9%, with major companies like Moderna and Pfizer seeing significant losses. Analysts warn that Kennedy's views could undermine vaccine confidence and impact the biotechnology sector, leading to potential public health risks.
Health stocks have plummeted following Donald Trump's appointment of vaccine skeptic Robert F. Kennedy Jr. as health secretary, with Moderna, Pfizer, and GSK experiencing significant losses. The decline has affected US-exposed European healthcare stocks as well, amid growing uncertainty in the vaccine industry. Analysts have downgraded their outlooks on vaccine stocks, reflecting concerns over Kennedy's stance on vaccines and potential policy changes.
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