Shakeup in Federal Health: FDA Vaccine Chief's Resignation Sparks Market Turmoil

Shares of U.S. drugmakers declined as FDA's top vaccine official, Peter Marks, announced his resignation amid the Trump administration's overhaul of health agencies. Concerns over potential tariffs on drugs and Secretary Kennedy's plans added to market instability. Marks' departure increases uncertainty in the biotech sector.

The U.S. pharmaceuticals sector experienced a significant setback on Monday following the resignation of the FDA's leading vaccine official, Peter Marks. Investors reacted to the news with concern, fearing intensified regulatory changes driven by the Trump administration's ongoing health agency overhaul.

Reports suggest that apprehension is mounting over potential tariffs on pharmaceuticals, with Secretary of Health and Human Services Robert F. Kennedy Jr.'s intentions fueling further uncertainty. Known for questioning vaccine safety and efficacy, Kennedy's reforms could mark a significant shift in public health policy.

With Marks' departure slated for April 5, the biotech market's stability is increasingly precarious. As discussions about his successor unfold, the potential alignment with Kennedy's vaccination views poses additional risk, causing waves in investor confidence and highlighting the sector's vulnerability.

(With inputs from agencies.)