2025-06-09-Bernstein-快速解读_美国生物制药-美国疾病控制与预防中心（CDC）疫苗专家委员会（ACIP）所有成员退休（接下来是谁_）_11页_264kb

US Biopharmaceutical Report Summary

1. ACIP Committee Overhaul:

   • Robert F. Kennedy Jr. (RFK Jr.) has ordered the retirement of all 17 current members of the CDC's Advisory Committee on Immunization Practices (ACIP), aiming to restore public trust.
   • RFK Jr. argues the current committee suffers from conflicts with the vaccine industry and functions as a "rubber stamp."
   • The new members will be individuals not working directly for the vaccine industry, who exercise independent judgment and are willing to ask critical questions.

2. Our Take:

   • While agreeing independence is crucial, there is concern that the lack of industry expertise could impact vaccine critique.
   • The analysis will closely monitor the individuals RFK Jr. selects for the committee.

3. Investment Analysis:

   • Stock Ratings: Stocks rated as "Outperform" include Eli Lilly (LLY), Amgen (AMGN), and Gilead Sciences (GILD).
   • Stocks rated as "Market Perform" include BMY, PFE, MRK, ABBV, and MRNA.
   • Companies most affected by potential ACIP changes or upcoming votes are Merck (MRK), Moderna (MRNA), and Pfizer (PFE).

4. ACIP Vote Dates (June 25-27, 2025):

   • Recommendation votes scheduled for COVID-19 vaccines, HPV vaccine, Influenza vaccines, Meningococcal vaccine, RSV (adults), and RSV (maternal/pediatric).
   • Vaccines for Children (VFC) votes scheduled for COVID-19, HPV, Influenza, and RSV vaccines.
   • Merck's clesrovimab (RSV mAb, approved as ENFLOVIA) and Gardasil are expected to be voted on.

5. Conclusion:

   • Particular caution is suggested for companies like MRK, MRNA, and PFE awaiting potential negative outcomes from ACIP discussions or policy shifts stemming from the ACIP overhaul.