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MRNA, PFE, NVAX, BNTX: Pharma Stocks Shiver as the U.S. President Calls Pandemic ‘Over’

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The U.S. President’s comment related to the end of the pandemic pulled down shares of multiple COVID-19 vaccine makers on Monday.

Following President Joe Biden’s comments that the pandemic is over, shares (or ADRs) of biotechnology company Moderna Inc. (NASDAQ:MRNA) and some other COVID-19 vaccine makers, including Pfizer Inc. (NYSE:PFE), Novavax, Inc. (NASDAQ:NVAX), and BioNTech SE (NASDAQ:BNTX), declined on Monday.

During the 2022 60 Minutes Interview with Scott Pelly, President Biden said, “The pandemic is over. We still have a problem with COVID. We’re still doing a lotta work on it. It’s– but the pandemic is over.”

These comments have come at a time when the U.S. government is trying to secure COVID-19 funds, amounting to $22.4 billion, from Congress. Notably, the country is dealing with thousands of new COVID-19 cases daily. The President’s comments have drawn criticism from the opposition and some medical representatives as well.

Shares of Moderna lost 7.14% to close at $127.90 on Monday. Further, shares of Pfizer slipped 1.28%, and those of Novavax declined 6.51%. The American Depository Receipts (ADRs) of BioNTech fell 8.6% on Monday.

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