Stocks for two of the world’s most prominent vaccine makers tumbled this week after a swirl of reports suggested the Trump administration is considering a phase-out—or even an outright ban—of COVID-19 vaccines in the United States. The news, first highlighted in outlets such as The Daily Beast and Newsweek, sent Moderna shares down 5.5% and Pfizer’s stock sliding by 2.6% on August 25, 2025, as investors tried to make sense of the shifting policy winds in Washington.
At the center of the controversy is Dr. Aseem Malhotra, a British cardiologist who is closely associated with Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. Malhotra, who advises the Make America Healthy Again (MAHA) Action lobby group, told The Daily Beast that the administration’s decision could come “within months,” and might be rolled out in stages or with “one clean decision.” According to Malhotra, “those closest” to Kennedy have been baffled as to why the COVID-19 vaccine “continues to be prescribed.”
Malhotra further claimed that skepticism about the continued use of COVID-19 vaccines among Kennedy’s inner circle is rooted in a 2022 peer-reviewed paper published in the journal Vaccine. This study, conducted by a group of physicians, university professors, and researchers, performed a secondary analysis of “serious adverse events reported in clinical trials of Pfizer and Moderna mRNA COVID-19 vaccines in adults.” The paper concluded that adults who received mRNA vaccines faced a 16 percent higher risk of “excess serious adverse events” compared to those in placebo groups.
“It could [happen] in a number of stages, including learning more about the data,” Malhotra told The Daily Beast. “But given the increased talk of vaccine injuries in the past few weeks among the administration, it could also come with one clean decision.”
Malhotra’s remarks come on the heels of a major announcement from Robert F. Kennedy Jr. at the beginning of August 2025, as reported by Breitbart News. Kennedy revealed that the HHS would be “canceling mRNA vaccine development investments and contracts.” He specifically pointed to the Biomedical Advanced Research and Development Authority (BARDA), a division within HHS responsible for some of the government’s most advanced scientific research, stating that BARDA had recently “reviewed 22 mRNA vaccine development investments, and began canceling them.”
While the reports have sparked intense speculation and debate, the White House has moved quickly to tamp down the rumors. In a statement to Newsweek, White House spokesperson Kush Desai said, “The Administration is relying on Gold Standard Science and is committed to radical transparency to make decisions that affect all Americans.” Desai went on to stress, “Any discussion about HHS policy should be dismissed as baseless speculation unless officially announced.” An HHS spokesperson echoed this sentiment, declining to comment on potential policy decisions.
The conflicting signals have left many Americans—along with Wall Street and the broader medical community—scrambling for clarity. The stakes are high: Moderna and Pfizer, the two companies at the heart of the vaccine rollout, were instrumental in the United States’ response to the COVID-19 pandemic. Their vaccines have been described by former President Donald Trump himself as a “monumental achievement” during the early days of the pandemic.
The sudden turn in official tone has raised eyebrows across the political spectrum. Supporters of the administration’s reported move argue that it’s time to reexamine the safety and necessity of continued mass vaccination, especially in light of emerging data and the changing landscape of the pandemic. They point to the findings of the 2022 Vaccine paper as evidence that a more cautious approach is warranted. “Skepticism among Kennedy’s circle regarding the COVID-19 vaccine comes from a 2022 peer-review paper,” Malhotra reiterated, highlighting the 16 percent higher risk of excess serious adverse events found in the study.
On the other hand, critics warn that phasing out or banning COVID-19 vaccines could have far-reaching consequences for public health. They note that the vaccines have been credited with saving countless lives and preventing severe illness on a massive scale. Some public health officials, speaking off the record, have expressed concern that shifting away from vaccination could erode hard-won gains in pandemic control and undermine trust in established medical science.
Adding another layer of intrigue, Malhotra claimed that the decision to phase out the vaccines is supported by “influential” members of Trump’s family. However, the White House has flatly denied this, maintaining that any such claims are pure conjecture until an official announcement is made. The administration’s official position remains that decisions are being made based on “gold standard science” and with a commitment to transparency.
The economic impact has been immediate and significant. Investors, already jittery from months of uncertainty in the pharmaceutical sector, responded swiftly to the reports. Moderna’s 5.5% drop and Pfizer’s 2.6% decline on August 25, 2025, reflect deep anxieties about the future of mRNA vaccine technology in the U.S. market. For companies that invested billions in research, manufacturing, and distribution, the possibility of a government-mandated phase-out is nothing short of seismic.
For now, the official word from the HHS is silence. When asked by Newsweek to comment on the swirling rumors, an HHS spokesperson simply stated that the agency “does not comment on potential policy decisions.” This has only fueled further speculation, leaving the public to wonder whether the administration is preparing for a major policy pivot—or if the story is, as the White House insists, much ado about nothing.
In the meantime, the debate over the safety and efficacy of COVID-19 vaccines continues to rage. The 2022 Vaccine paper cited by Malhotra has become a flashpoint, with supporters citing its findings as justification for caution, while critics argue that the broader weight of scientific evidence still overwhelmingly supports vaccination as a vital public health tool.
As the story develops, Americans are left to navigate a landscape filled with uncertainty, conflicting information, and high-stakes political maneuvering. Whether the Trump administration will move forward with a phase-out or ban of COVID-19 vaccines remains to be seen. What’s clear is that the conversation is far from over—and the consequences, whatever the final decision, will be felt for years to come.
