AstraZeneca plc’s AZN COVID-19 vaccine will be produced by Mexico and Argentina for Latin American countries except for Brazil, according to government officials of the two countries, AlJazeera reported Wednesday.
The countries will produce 150 million to 250 million initial doses of the COVID-19 vaccine developed by the pharmaceutical company in collaboration with researchers at the University of Oxford, according to statements tweeted by President Alberto Fernandez of Argentina and Foreign Minister Marcelo Ebrard of Mexico.
The vaccine would be produced in the first half of 2021 and will not generate any profits in this period, Fernandez disclosed. The priority would be to vaccinate the elderly, medical professionals, and people with pre-existing conditions, Bloomberg reported.
Ebrard said on Twitter that the billionaire founder of América Móvil, S.A.B. de C.V. AMX Carlos Slim’s foundation is helping finance the vaccine efforts.
Why It Matters
Latin America has half the COVID-19 cases of the ten most severely affected countries in the world, Bloomberg noted.
The Serum Institute of India Private Limited has also signed a deal with AstraZeneca to supply one billion doses to middle-and low-income countries.
The Indian company also has a deal with Novavax Inc NVAX for the development and distribution of its coronavirus vaccine in low and middle-income countries.
Vaccine candidates of companies such as Pfizer Inc PFE and its partner BioNTech SE BNTX, Moderna Inc MRNA, and Johnson and Johnson JNJ are either in late-stage human trials or nearing them.
AstraZeneca shares closed 2.85% higher at $56.74 on Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.