Stock Track | Viking Therapeutics Plummets 5% on Concerns Over RFK Jr.'s Anti-Weight-Loss Drug Stance

Stock Track11-16

Viking Therapeutics' stock fell sharply by 5.06% on Friday, following concerns that Robert F. Kennedy Jr., who has been reportedly picked by President-elect Donald Trump to head the Department of Health and Human Services, is a firm opponent of the new class of weight-loss and diabetes management drugs.

Kennedy, a scion of the famous Kennedy political family, has criticized the pharmaceutical industry and argued that Americans have become too dependent on pharmaceuticals like the GLP-1 drugs, which include weight-loss medications. He believes the government should instead promote healthy eating as a more cost-effective approach to tackle the obesity crisis.

Viking Therapeutics is among the companies working on developing oral weight-loss drugs, and the potential appointment of Kennedy as the head of HHS has raised concerns about the future prospects of these medications under his leadership. Investors appear to be selling off shares of Viking and other weight-loss drug makers in anticipation of potential regulatory hurdles or opposition to these drugs from Kennedy's HHS.

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