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Philippines signs initial deal with Moderna for covid vaccines

Philippines signs initial deal with Moderna for covid vaccines

The Philippines has signed a preliminary deal with Moderna Inc. to supply its coronavirus vaccines to the Southeast Asian nation, with a final agreement likely this month, Bloomberg News.

The pharmaceutical giant Moderna is on the rise while the Philippines and other governments are placing orders for the covid-19 vaccine. Moderna is among the five vaccine makers the Philippines has inked term sheets with for about 108 million doses, confirmed Carlito Galvez, who leads the nation’s vaccine program.

The Philippines officials, however, didn’t specify how many doses are being sought from Moderna. Initially, the Asian country has been planning to receive up t0 20 million doses. That volume of the anti-covid drug will allow the medical authorities to inoculate the population.

The Philippines, which has the second-highest number of coronavirus infections in the region, targets to buy 148 million doses this year to vaccinate up to 70% of its population and aid the recovery of its economy that’s seen to remain in recession until this quarter.

On Monday, Philippine President accused the EU of holding up supplies of corona vaccines to other nations. Rodrigo Duterte complained that less wealthy countries lacked the power to secure all they sought. “This is a fight among the highest bidders, who can pay first,” Duterte said in a broadcasted address.

“We are not rich,” Duterte added, although he assured the public his Cabinet has the funds to procure vaccines and to protect all Filipinos.