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.

Moderna is among the five vaccine makers the Philippines has inked term sheets with for about 108 million doses, said Carlito Galvez, who heads the nation’s vaccine program. He didn’t specify how many doses are being sought from Moderna, although he earlier said that there are talks for up to 20 million doses.

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.

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