Analysts from Wall Street firm Cantor Fitzgerald have urged the Trump administration to reconsider the position of Robert F. Kennedy Jr. as Secretary of the Department of Health and Human Services (HHS). This call follows Kennedy’s reported role in the resignation of the top vaccine official at the Food and Drug Administration (FDA).
The analysts, Josh Schimmer and Eric Schmidt, expressed their concerns following the departure of Peter Marks, who was reportedly compelled to resign by Kennedy, with the support of the newly confirmed FDA Commissioner, Marty Makary, according to Politico. The FDA operates under the jurisdiction of HHS.
Cantor Fitzgerald’s analysts criticized Kennedy’s leadership and his intentions to restructure HHS. Kennedy recently announced a large-scale layoff at HHS, involving approximately 10,000 employees, with the first phase having begun last Tuesday, as reported by CBS News.
The analysts stated, “We call on the administration to re-evaluate RFK Jr’s role at HHS. Pushing out one of the most trusted leaders of the FDA to promote an anti-science agenda is a step too far for us. HHS cannot be led by an anti-vax, conspiracy theorist with inadequate training.” They further claimed that RFK Jr. was “undermining the trusted leadership of healthcare in this country.”
A spokesperson from Cantor Fitzgerald highlighted the independence of the analysts in their statement to Fortune. “The views expressed in our Equity Research reports are solely those of the analyst(s). As always, we pride ourselves on the independence of the analysts within our Research division,” the spokesperson stated.
The White House and HHS have not immediately responded to Fortune’s request for comment. Former FDA Commissioner Robert Califf also shared his perspective on Marks’ departure. “I had the chance to work closely with him, and while many people disagreed with one or another decision he made, I can assert that his interest was always with the combination of public health and the special needs of patients in this rapidly evolving world of technology,” Califf noted.
The announcement coincided with a decline in the stock prices of major vaccine manufacturers, including Merck, Moderna, and Pfizer. Moderna experienced the most significant drop, closing down by over 4% on Tuesday, while Pfizer and Merck both closed about 3% lower.
In his resignation letter, Marks criticized Kennedy’s leadership at HHS, stating, “I was willing to work to address the Secretary’s concerns regarding vaccine safety and transparency. However, it has become clear that truth and transparency are not desired by the Secretary, but rather he wishes subservient confirmation of his misinformation and lies.”
This article was originally reported by Fortune.com.