MANILA—The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) on Wednesday night signed a deal with China's Sinovac Biotech for some 500,000 doses of its COVID-19 vaccine worth P325 million, a top official of the group said.
In an interview with ABS-CBN's Teleradyo, federation chairman emeritus Francis Chua said each dose of Sinovac vaccine costs P650.
The Food and Drug Administration (FDA) this week granted emergency use authorization for the firm's vaccine, which would pave the way for its delivery to the Philippines.
"We would pay before the delivery so pinahanda na po lahat ang pera sa amin. So tonight, we signed the contract. Tomorrow, we will start collecting the money para mabayaran," Chua explained.
(We will start collecting the money to pay for the vaccine.)
He added that upon signing the group would need to meet with vaccine czar Carlito Galvez Jr. to have a tripartite agreement with the government.
The next stage, Chua said, would be the approval of China's health department to export the doses to the Philippines and its coordination with the Department of Health (DOH).
"[Likewise,] the DOH in the Philippines [should be] willing to issue the license to the 500,000 doses," he said.
The FFCCCII said the earliest time to have the doses delivered is next month.
Chua earlier said that the FFCCCII talked to different vaccine manufacturers but it turned out that Sinovac was the first to provide the order.
FDA Director General Eric Domingo said that interim data from Sinovac show the vaccine has an efficacy rate on patients aged 18 to 59 years of 65.3%, based on trials in Indonesia, and up to 91.2% based on trials done in Turkey.
Several countries, including in Asia, have already rolled out their respective COVID-19 vaccination programs.