Following US President-elect Donald Trump’s announcement that Robert F Kennedy (RFK) Jr will be appointed as head of the Department of Health and Human Services (HHS), the pharmaceutical industry is beginning to look ahead at a new administration with an uncertain regulatory outlook.
Early reaction from big pharma executives to the vaccine sceptic’s new position has been one that focuses on collaboration and adaptability. At the Jefferies London Healthcare Conference held from 19 to 21 November, Bristol Myers Squibb’s (BMS) chief financial officer David Elkins was confident in the pharmaceutical industry’s ability to work with new administrations.
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“This industry is one of the most resilient,” Elkins said, adding that every administration has its changes and challenges.
“It doesn’t matter who is in office […] we will continue to work with them. It’s too soon to tell [what their policies will be] with the Trump admin, but we will fully engage with them on those.”
Elkins’ remarks echo those of GSK’s CEO Emma Walmsley made last week, which primarily constituted of optimism around her company’s capacity to innovate and navigate potential shifts, though admitted that falling vaccination rates in the US are a concern. RFK Jr is a vaccine sceptic who, according to scientists, has stated incorrect claims about vaccine safety such as debunked links to autism. Several prominent vaccine makers, including Bavarian Nordic, Pfizer, and GSK, all saw their share price drop in the wake of RFK Jr’s appointment.
Ali Pashazadeh, CEO of Treehill Partners, told Pharmaceutical Technology at the Jefferies London Healthcare Conference that RFK Jr will “shake things up”, though the effect on long-term company share prices will only be known after a few quarters of administration.
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By GlobalDataWhile BMS is not as reliant on vaccine products as other pharma companies, RFK Jr – who has accused the US Food and Drug Administration (FDA) of waging a war on public health – will likely make a significant change to the regulatory landscape. What that future looks like, however, is currently unclear.
“Appointing RFK the position of health secretary may have damaging implications for the US healthcare. Given his anti-vaccine rhetoric and negative comments towards the FDA, it raises questions for the future of US drug approvals and the FDA’s regulatory power,” said GlobalData Healthcare analyst Cyrus Fan in a statement before confirmation of the appointment.
Trump previously stated in a post on social media platform X: “Mr Kennedy will restore [HHS] to the traditions of Gold Standard Scientific Research, and beacons of Transparency, to end the Chronic Disease epidemic, and to Make America Great and Healthy Again!”
