Moderna and Novavax Stocks Are Tumbling Because Good News on a Covid Pill Is Bad News for Vaccines

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Vaccine manufacturer stocks slid on Friday after Merck announced its oral Covid-19 antiviral pill cut the risk of hospitalization or death by approximately 50%.

While Merck’s good news paves the way for turning the page on the pandemic, it fueled fears that demand for Covid-19 vaccines will decline in upcoming months, impacting vaccine manufacturers and biotech companies developing their own Covid-19 treatments.


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