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This is what destroying the vaccine market looks like

What Happens When the Rules Change Mid-Game

A pharmaceutical company spent years and over a billion dollars developing a new flu vaccine, consulted extensively with federal regulators about how to test it, got the green light, ran the trial — and then watched the agency refuse even to look at the results. That is not a regulatory disagreement. That is a breakdown in the basic compact between government and the companies it oversees.

Sarah Longwell, Tim Miller, and Bill Kristol open with a detail that should unsettle anyone who expects public health agencies to operate predictably: Moderna publicly announced the bad news itself, a move so unusual for a drugmaker that it signals how far outside normal bounds this decision falls.

"This is not the type of development you would normally expect a pharmaceutical company to broadcast."

The company's mRNA flu vaccine — leveraging the same messenger RNA technology that produced COVID vaccines at unprecedented speed — had cleared every hurdle the Food and Drug Administration set for it. Regulators told Moderna the trial design was "acceptable." The company enrolled more than 40,000 participants across eleven countries. It submitted the application in good faith. Then came the "refuse to file" letter: not a rejection of the vaccine, but a refusal to even consider it.

This is what destroying the vaccine market looks like

The authors quote Michael Osterholm, director of the University of Minnesota's Center for Infectious Disease Research and Policy, who frames the institutional damage plainly:

"Even if a product didn't work, ultimately — even if it wasn't shown to be effective — there was at least a well-defined process to get to that endpoint. What you saw this past week was the FDA completely turning that process on its head."

The Decision Came From Above

Career FDA staff — the scientists who worked most closely with Moderna — apparently believed the review should proceed. The refusal originated with Vinay Prasad, a physician-researcher appointed to lead the vaccines division by Robert F. Kennedy Jr., who now oversees the Department of Health and Human Services. A division director overruling career staff on a decision of this scale is, by historical standards, extraordinary.

"For FDA to change a decision at this late stage, the rules should be similar to instant replay in football — you need new evidence and a compelling explanation to overturn the call on the field. I don't see how that's the case here."

That assessment comes from Joshua Sharfstein, a former FDA deputy director known as an industry critic — which makes his criticism of the agency's conduct all the more telling.

The administration's defense — that Moderna "refused to follow very clear FDA guidance" by not testing against a higher-dose senior vaccine — contradicts the agency's own 2024 statement that the trial design was acceptable. And the logic of the demand itself is flawed: a new vaccine does not need to outperform every existing alternative to merit approval. Multiple options in the market matter. They protect against supply shocks — a real concern when avian flu is decimating poultry flocks that provide the eggs used to manufacture traditional flu shots. They offer alternatives for patients with allergies. They create competition that improves quality over time.

"Moderna appears to have been set up — like they were given a set of expectations, and now the rug has been pulled out from under them."

The Ripple Effect

The flu vaccine market is one thing. The chilling effect on future research is something else entirely.

Seasonal influenza kills tens of thousands — possibly over 100,000 — Americans each year. An mRNA flu vaccine could be designed later in the season, closer to actual virus circulation, improving strain matching. It avoids the egg-based mutation problem. The advantages are real. But if companies cannot trust that regulators will honor their own guidance, the billion-dollar investments required for vaccine development become gambles rather than calculations.

"Developing something that is an effective treatment for a disease is a long-term process and a long-term investment. And so companies — if they don't have certainty about what kinds of expectations FDA is going to have, or what FDA's views on the science are — that long-term investment in innovation is difficult to do."

That uncertainty is already producing visible damage. Moderna has paused research into mRNA treatments for other conditions. The authors note that early studies suggest messenger RNA vaccines could prove effective against certain cancers — an area of enormous therapeutic promise now shadowed by regulatory unpredictability.

Adam Lauring, an infectious disease physician at the University of Michigan, captures the scope of the risk:

"If this is going to happen — and if it's going to happen again and again — it can really cast a pall over the field, and the ability to develop new approaches and new technologies to be delivered to people with not just infections, but a variety of diseases."

There is also the pandemic-preparedness angle. mRNA vaccines can be manufactured at scale within weeks of identifying a pathogen. If a novel flu strain began transmitting between humans, that speed would be invaluable. But building that capacity requires sustained investment, and investment requires trust in the regulatory process.

"It's kind of naïve to think that there's never been any sort of political interference with the FDA decisions over many years, but there's never been anything like this."

Counterpoints

Critics might note that the FDA's core mandate is protecting public safety, not encouraging industry investment — and that requiring comparison against the best existing senior vaccine, rather than a standard-dose alternative, is a scientifically defensible position for a population with weakened immune systems. The authors also do not engage with whether the original FDA guidance may have been insufficiently specific, leaving room for legitimate reinterpretation as the data matured. And there is the broader question of whether regulators should weigh the opportunity cost of approving a marginally-different vaccine when resources — clinical trial participants, manufacturing capacity, public attention — are finite.

None of those arguments, however, explain why the refusal came from a political appointee over the objections of career staff, or why the FDA could not have approved the vaccine for adults aged 50 to 65 while deferring the over-65 question pending further study. That option existed. It was not taken.

"The idea that approval of a vaccine might depend — even a little bit — on whether the manufacturer says 'pretty please' speaks volumes about what role scientific judgment is now playing in the approval process."

Bottom Line

A regulatory agency that changes its standards after the fact — and refuses to explain why — does not just lose one company's trust. It damages the incentive structure for every firm considering whether to invest years and hundreds of millions of dollars into the next vaccine, the next treatment, the next pandemic defense. The cost of this decision will be measured not in dollars but in the therapies that never get developed because the rules of the game proved unreliable.

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This is what destroying the vaccine market looks like

by Sarah Longwell, Tim Miller, Bill Kristol · The Bulwark · Read full article

THE VACCINE MAKER MODERNA decided this past week to tell the world about bad news it had received from the federal government.

A potentially groundbreaking vaccine for seasonal flu that the Massachusetts-based company had developed would not be getting approval from regulators. In fact, it wasn’t even getting formal consideration, Moderna announced in a Tuesday press release, because officials were refusing to accept the application.

This is not the type of development you would normally expect a pharmaceutical company to broadcast. But that’s because there’s nothing normal about the way the federal government is behaving in this saga—or, for that matter, how the government has been behaving ever since President Donald Trump put anti-vaccination crusader Robert F. Kennedy Jr. in charge of America’s public health.

Moderna’s flu shot, which uses mRNA technology made famous during the COVID-19 pandemic, is the product of a lengthy research and development process that goes back years. Along the way, Moderna scientists consulted directly with officials at the Food and Drug Administration, the agency inside of Kennedy’s department (Health and Human Services) that is responsible for reviewing and approving vaccines.

Such consultation is normal. And a major focus of the discussion between the company and the regulators was how Moderna should test the new shot to demonstrate its safety and effectiveness. There was some back and forth—again, pretty routine—but ultimately the FDA agreed that Moderna’s design for a trial was “acceptable,” according to communication Moderna cited in its press release.

Moderna proceeded with the testing, got promising results and submitted its application. It had good reason to believe it would receive consideration and, in due time, outright approval. Instead, on February 3, Moderna got what’s known as a “refuse to file” letter from the FDA, in which the agency said the company had not put the new vaccine to a sufficiently demanding test.

This was not a decision to reject the Moderna vaccine. It was a refusal even to think about approving it. The FDA rarely takes such a step, and when it does it’s usually because an application is missing a whole component or includes suspect data. Nobody is suggesting Moderna’s application has those kinds of issues.

On the contrary, the available evidence suggests this is a case of the FDA disqualifying a vaccine on questionable grounds, while changing its standards for review late in the process because it was trying to find a ...