Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Philippines to prioritise coronavirus vaccine supply from Russia or China

Published 09/15/2020, 01:56 AM
Updated 09/15/2020, 02:00 AM
© Reuters.

MANILA, Sept 15 (Reuters) - Philippine President Rodrigo
Duterte vowed on Monday to prioritise buying COVID-19 vaccine to
be made available by Russia or China, while taking a swipe at
pharmaceutical firms of western nations asking for advance
payment for their offers.
Duterte has expressed optimism that the Southeast Asian
country, which has recorded the region's highest number of
coronavirus cases at nearly 266,000, would be "back to normal"
by December, pinning his hopes on the availability of vaccines.
"We will give preference to Russia and China provided that
their vaccine is as good as any other in the market," he said in
a late-night televised address.
Any vaccine purchase by the Philippines, however, will have
to undergo bidding process, he said.
The Philippine government has had talks with a number of
potential vaccine suppliers, including Russia, China, U.S.
drugmaker Pfizer Inc PFE.N and Moderna Inc MRNA.O . It also
planned to hold talks with Australian biotech giant CSL Ltd
CSL.AX . Duterte singled out China, which he said was unlike other
countries seeking "reservation fee" or advance payment.
"The one good thing about China is you do not have to beg,
you do not have to plead," he said. "One thing wrong about the
western countries, it's all profit, profit, profit."
Moscow and Manila have agreed to work on clinical trials for
Russia's vaccine.
Duterte did not name any pharmaceutical companies seeking
advance payment, but he warned their representatives in Manila
to go home or "I'll kick your ass".
He said the Philippines' procurement law prohibits the
government from buying anything that is non-existent or has yet
to be produced.
"They want you to finance their research and the perfection
of the vaccine," he said. "They want cash advance before they
deliver the vaccine. If that's the case, then all of us will
die."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .


Latest comments

That's business, you want the country good.... then you pay for it, nothing for free in this world
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.