Secretary Robert F. Kennedy Jr. is subjecting mRNA vaccines to political scrutiny in the United States, causing a 66% collapse in sector investment on 26 March 2026. Regulatory shifts are forcing American biotech firms to move high-skilled manufacturing and clinical trials to China and Europe.
FDA scrutiny triggers 66% collapse in US mRNA investment
The FDA recently refused to review an mRNA flu vaccine application despite a 40,000-person clinical trial showing it worked better than standard shots for older adults. Although the agency later changed its mind, the delay signaled a new era of political interference in drug approvals.
Investors poured more than $500 million into mRNA technology in 2023 to fund new treatments for various diseases. Last year, that figure dropped to $174 million as the biotech sector reacted to the hostile regulatory climate in Washington.
Moderna CEO Stéphane Bancel warned the company would no longer pursue new late-stage vaccine trials in the United States. He noted that companies cannot make a return on investment if they lose access to the American market due to political blockades.
How Operation Warp Speed built the lead the US is now losing
President Donald Trump championed mRNA technology through Operation Warp Speed, a public-private partnership that brought COVID-19
