Biden Declares Pandemic is Over – Vaccine Stocks Take a Hit

US President Joe Biden declared the pandemic ‘over’ in a “60 Minutes” interview this Sunday, September 18^th. In response, many vaccine manufacturers saw a drop in share prices, including Moderna, Novavax, and BioNTech. This reflects a larger dip in the biotech market, particularly companies working with COVID-19 therapeutics.

According to Fierce Pharma, “After reporting a profit of £19.2 million in last year’s first half, Oxford Biomedica has swung to a loss of £27.4 million in the first half of 2022, The Business Magazine reports. The company has been a key manufacturing partner for AstraZeneca, but the pharma giant’s shot is seeing lower demand these days.”

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(Source: Fierce Pharma, September 19^th, 2022)