COVID-19 vaccine makers fall as Biden says pandemic is over

Leading COVID-19 vaccine developers continued to decline towards Monday's close after President Joe Biden said that the pandemic is a thing of the past despite ongoing concerns related to the virus.
"The pandemic is over," he said Sunday during a 60 Minutes interview on the sidelines of the Detroit auto show, adding, "We still have a problem with COVID. We're still doing a lot of work on it. But the pandemic is over."
Shortly after 3:30PM EST, COVID-19 vaccine makers $Moderna(MRNA.US)$ and $BioNTech(BNTX.US)$ were at $125.92 and$ 132.80 falling ~9% while $Novavax(NVAX.US)$ and $Vaxart(VXRT.US)$  were at $28.45 and $2.41 marking a ~7% decline, respectively.
European vaccine developers $Valneva(VALN.US)$ and $CureVac(CVAC.US)$ had also shed ~19% and ~5%, respectively.
Meanwhile, pharma giants with sizable COVID-19 franchises, $Pfizer(PFE.US)$ , $Merck & Co(MRK.US)$ , $Johnson & Johnson(JNJ.US)$ and $AstraZeneca(AZN.US)$ , are also in the red.
The president's remarks suggest that COVID-19 Public Health Emergency (PHE) declaration is likely to end in January, leading to a potential end to extra federal Medicaid funding, Cowen analyst Rick Weissenstein wrote in a Monday note.