Moderna shares hit a low after report suggests the FDA plans to tie COVID shots to child deaths

"Pharma stocks took a fresh hit on Friday following a report in The Washington Post that the U.S. Food and Drug Administration reportedly plans to link COVID-19 vaccines with the deaths of 25 minors. Moderna shares fell 7.4% Friday to their lowest level since March 2020. The drop brought the drugmaker's year-to-date slump to more than 44%. The Cambridge, Massachusetts-based company is one of two manufacturers of approved mRNA coronavirus vaccines."

"The other mRNA COVID-19 vaccine maker, Pfizer, saw its own shares fall 3.9% on Friday. Shares of its partner on the shot, BioNTech, tumbled 7.3%, while stocks in another vaccine maker, Novavax, were down 3.6%. The pharma companies' stock slump stands in contrast to the market as a whole, with the S&P 500 rising more than 12% this year. FDA officials reportedly plan to present the data at an upcoming vaccine advisory panel meeting, according to the Post."

"The data is apparently based on self-reported adverse events collected in a federal database called the Vaccine Adverse Event Reporting System (VAERS). The database contains unverified reports and is not designed to conclude that a vaccine caused a death. The FDA didn't immediately respond to Fast Company 's request for comment. Vaccine policy in U.S. shifting under new administration U.S. Health and Human Services Secretary Robert F. Kennedy Jr. fired all of the members of the vaccine advisory panel,"

The U.S. Food and Drug Administration reportedly plans to link COVID-19 vaccines with the deaths of 25 minors, triggering market reactions. Moderna shares plunged 7.4% to their lowest since March 2020 and have fallen more than 44% year-to-date. Pfizer fell 3.9%, BioNTech tumbled 7.3%, and Novavax dropped 3.6%, while the S&P 500 has risen over 12% this year. FDA officials are set to present data at an upcoming vaccine advisory panel meeting that informs CDC guidance and insurance coverage. The data derive from VAERS, which contains unverified, self-reported events and cannot establish causation. HHS Secretary Robert F. Kennedy Jr. dismissed ACIP members and installed critics of vaccines.

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