This article originally appeared on ZeroHedge and was republished with permission.
Guest post by Tyler Durden
Vaccine and immunotherapies companies tumbled during the afternoon cash session in New York after FDA Commissioner Marty Makary named Vinay Prasad the next director of the Center for Biologics Evaluation and Research.
Several media outlets cited an internal email from Makary to staff members earlier today that announced Prasad’s new position to head up biologics at the FDA. This comes weeks after former biologics head Peter Marks abruptly quit.
STAT News’ Adam Feuerstein shared a screenshot of Makary’s email on X.
Makary told FDA workers that Prasad had published more than 500 academic articles and “done extensive research in the field of oncology and has presented at hundreds of scientific and medical conferences,” adding, “He is also the author of the books, “Malignant: How Bad Policy and Bad Evidence Harm People with Cancer” and “Ending Medical Reversal: Improving Outcomes, Saving Lives.””
Prasad has been a sharp critic of the Covid-19 vaccine for children, as well as a critic of Marks, as per Daily Caller’s Emily Kopp’s note on X:
In markets, the SPDR S&P Biotech ETF (XBI) fell 6.5%. Vaccine stocks Moderna dropped 11.5% and Novavax fell 3%. Gene therapy firm Sarepta Therapeutics plunged 22%.
“The Street is reacting negatively to the news given some of the color around Prasad and his stance on covid-19 vaccines, the broader drug approval process including accelerated approvals and other comments that on the surface appear to be more anti-industry versus amicable,” said Jared Holz, a health-care analyst at Mizuho Securities USA, who was quoted by Bloomberg.
Review Prasad’s YouTube channel for more insight into the new biologics chief’s views and beliefs:
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