“Analysts at Cantor Fitzgerald Call for Dismissal of Health Secretary Kennedy”
Reuters – Analysts at Cantor Fitzgerald, previously led by Howard Lutnick, former Secretary of Commerce under the Trump administration, have called for the removal of Secretary of Health and Human Services, Robert F. Kennedy Jr. Kennedy, a prominent skeptic of vaccines, recently announced plans to restructure federal public health agencies, potentially resulting in the termination of numerous employees.
Cantor analysts Josh Schimmer and Eric Schmidt expressed concerns in a note on Monday, stating that Kennedy’s actions were eroding the credibility of healthcare leadership in the country. According to them, the HHS should not be overseen by an individual who opposes vaccination and promotes conspiracy theories, especially someone lacking sufficient training in the field.
This statement followed reports of the resignation of Peter Marks, the FDA’s top vaccine official, marking a significant departure amidst the Trump administration’s reorganization of health agencies. Lutnick, the CEO of Cantor for four decades, recently stepped down to assume the role of Commerce Secretary in the Trump administration, with his sons, Brandon and Kyle Lutnick, taking over leadership roles at the brokerage firm.
Cantor Fitzgerald clarified in an email to Reuters that the opinions expressed in their Equity Research reports are the sole viewpoints of the analysts, emphasizing the independence of their research division. The departure of Marks resulted in a drop in biotech and vaccine-related stocks, with the SPDR S&P Biotech ETF closing down 3.9% on Monday.
The Cantor analysts acknowledged the stock decline but asserted that their note was not politically motivated, focusing instead on safeguarding lives. They highlighted information from sources indicating that Marks, who was willing to remain at the FDA, prioritized scientifically sound assessments of vaccine safety and resisted attempts to undermine public health with anti-science sentiments—unlike Kennedy.
Furthermore, the analysts expressed optimism in the administration’s capacity to make necessary adjustments and compromises when appropriate. They urged policymakers to appreciate the vital role vaccines play in safeguarding the well-being of U.S. citizens.
(Reporting by Puyaan Singh in Bengaluru; Editing by Shinjini Ganguli and Alan Barona)
