FDA Shakeup: Vaccine Official’s Exit Sends Biotech Stocks Plummeting

The resignation of Peter Marks, a top vaccine official at the FDA, has led to a decline in U.S. drugmaker shares and increased uncertainty among biotech investors. The exit follows changes in federal health agencies and raises concerns about future biotech regulation, especially in vaccine-related areas.

Shares of major U.S. drugmakers experienced a drop on Monday morning following the resignation of a key FDA vaccine official. This marks the most significant exit at the regulator amid sweeping federal agency changes.

Companies focused on vaccines and gene therapy, including Moderna and Pfizer, saw their stock prices fall sharply. The biotech sector, already under pressure this year, faced further declines as uncertainty loomed over new regulatory directions.

Peter Marks, notable for advancing COVID-19 vaccines, will vacate his post amid concerns about the agency's future stance on biotechnology. His exit, coupled with previous high-level departures, amplifies investor doubts and casts a shadow on the biotech industry's trajectory.

(With inputs from agencies.)