- Analysts at Wall Street firm Cantor Fitzgerald, formerly led by Commerce Secretary Howard Lutnick, called on the Trump administration to “reevaluate” RFK Jr.’s role as secretary of the Department of Health and Human Services. The HHS secretary last week reportedly forced the FDA’s top vaccine official to resign.
Analysts at the Wall Street firm formerly led by Commerce Secretary Howard Lutnick want Health and Human Services Secretary Robert F. Kennedy Jr. dismissed.
In a note, Cantor Fitzgerald analysts Josh Schimmer and Eric Schmidt called for the Trump administration to “reevaluate” RFK Jr.’s role, following the resignation of the Food and Drug Administration's top vaccine official.
The official, Peter Marks, was reportedly forced to resign by Kennedy last week with the approval of newly confirmed FDA commissioner Marty Makary, Politico reported. The FDA falls under the umbrella of HHS.
The Cantor Fitzgerald analysts criticized Kennedy’s leadership and his plans to remake HHS. Last week, Kennedy said HHS will lay off around 10,000 people, the first round of which began on Tuesday, CBS News reported.
“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,” the analysts wrote. “HHS cannot be led by an anti-vax, conspiracy theorist with inadequate training.”
The analysts added that RFK Jr. was "undermining the trusted leadership of health care in this country.”
A spokesperson for Cantor Fitzgerald emphasized the independence of its analysts in a 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 said.
The White House and HHS did not immediately respond to Fortune’s request for comment.
Former FDA commissioner Robert Califf also commented on Marks’ dismissal.
“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.”
Share prices of some of the biggest vaccine makers, including Merck, Moderna, and Pfizer fell. Moderna led the losses, closing down more than 4% Tuesday. Both Pfizer and Merck closed down about 3%.
In his resignation letter, Marks took a final shot at Kennedy’s leadership at HHS.
“I was willing to work to address the Secretary’s concerns regarding vaccine safety and transparency,” Marks wrote. “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.”
