Cantor analysts double down on Kennedy criticism as FDA jobs cuts begin

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(Reuters) – Cantor Fitzgerald analysts renewed their criticism of U.S. Health Secretary Robert F. Kennedy Jr. on Thursday, saying the layoffs at the Food and Drug Administration pose a risk to public safety and the agency could be “coming apart at the seams”.

The Trump administration on Tuesday began laying off 10,000 staffers at US health agencies, including the FDA, where the departures included Peter Stein, director of the Office of New Drugs in its Center for Drug Evaluation and Research division.

Just four days ago, the analysts had called for Kennedy’s dismissal. A well-known vaccine skeptic, he had last week announced plans to reshape the federal public health agencies, which would involve firing thousands of workers.

“In the mere days since we published our note, the situation has deteriorated further. The FDA sounds like it may be stretching and at risk of coming apart at the seams and is in a precarious position,” the analysts wrote on Thursday.

“We agree with those who have suggested that the FDA may ultimately come out more nimble and stronger…but there should be a smoother way of getting from here to there without this extent of disruption to public safety,” they said.

Without naming Kennedy, the analysts said feedback to their March 31 research note “has been substantial and resoundingly aligned with our view that our country is entering dangerous territory when it comes to vaccines and now, potentially disruptive changes at the FDA”.

Investment bank Cantor Fitzgerald was previously headed by the Trump administration’s Secretary of Commerce Howard Lutnick. Its equity research arm published its initial note after the ouster of Peter Marks, FDA’s top vaccine official.

(Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur)