MANILA - The Philippines will begin its negotiations with Novavax Wednesday, a local pharmaceutical distributor said.
The country expects to receive 30 million doses of Covovax, Novavax Inc's COVID-19 vaccine, by July next year, Foreign Affairs Secretary Teodoro Locsin Jr. earlier said.
The vaccine is currently in its phase 3 of clinical trial with some 30,000 participants in the UK, US, Mexico, and India, according to Dr. Luningning Villa, medical director of Faberco Life Sciences Inc.
"Encouraging po ang results ng studies. Maganda po ang immune response doon sa phase 1, phase 2 tapos na rin yan and we’re waiting for the publication. Phase 3 is ongoing and so far encouraging ang results," she told ABS-CBN's Teleradyo.
(The studies so far show encouraging results. Phase 1 found good immune response, while we're waiting for the publication of phase 2.)
Some P2.5 billion is earmarked for the country's vaccination program under the health department. Another P70 billion in standby funds would be added from either approved loans or once the government exceeds its non-tax revenue targets. The stimulus plan Bayanihan 2 puts another P10 billion to the vaccine budget.