Shares of vaccine makers, including Moderna (MRNA), Pfizer (PFE), and BioNTech (BNTX), fell on Monday after President Joe Biden said that the Covid-19 pandemic is over. While appearing on CBS’s “60 Minutes” airing on Sunday, Biden said that while “we still have a problem with Covid,” he believes that “the pandemic is over.” Biden commented that “We’re still doing a lot of work on it… but the pandemic is over. If you notice, no one’s wearing masks. Everybody seems to be in pretty good shape. And so I think it’s changing.” The U.S. government still designates Covid-19 a Public Health Emergency and the World Health Organization says it remains a Public Health Emergency of International Concern. In afternoon trading, shares of Moderna dropped nearly 10%, while Pfizer shares (PFE) fell 2% and shares of its German partner BioNTech declined nearly 9%. Additionally, shares of Novavax (NVAX), whose protein-based vaccine was authorized in July, fell nearly 10%.
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