Moderna to supply Taiwan with 5 million doses of coronavirus vaccine

4 min readFeb 10, 2021

Moderna to supply Taiwan with 5 million doses of coronavirus vaccine
By Ching-Tse Cheng, Taiwan News, Staff Writer
2021/02/10 10:40

TAIPEI (Taiwan News) — U.S. pharmaceutical Moderna announced Tuesday (Feb. 9) that it had reached a supply agreement on 5 million doses of its coronavirus vaccine with the Taiwanese government.
In a statement, Moderna said it will begin the delivery process in mid-2021. It added that it will also supply Colombia with 10 million doses around the same time.

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Although its vaccine has yet to be approved for use in either Taiwan or Colombia, the company said that it will continue to pursue the necessary approval of regulators prior to distribution.
According to trial results released by Moderna last year, its vaccine is 94.5 percent effective, similar to Pfizer. Last month, the company also said that its vaccine appeared to protect against the coronavirus variants that emerged in the U.K. and South Africa.
Taiwan’s Central Epidemic Command Center (CECC) confirmed earlier this week that Taiwan will also receive 200,000 doses of the AstraZeneca vaccine through the World Health Organization’s COVAX platform. The delivery date has yet to be determined.

Speaking at a press conference on Wednesday, CECC head Chen Shih-chung (陳時中) confirmed that the country has secured 5.05 million doses of coronavirus vaccine from Moderna. He expected vaccination to begin sometime in the second quarter.
Chen also pointed out that the Moderna vaccine vials can be stored at -20 C for six months and at between 2 to 6 C for 30 days prior to first use. He said the CECC will provide them to members of the public based on the priority groups set by the Taiwan Centers for Disease Control.

The Taiwan dollar appreciated 5.69 percent against the U.S. dollar to close at NT$28.390 on Tuesday (Feb. 9), the last trading session before the upcoming Lunar New Year holiday.
Compared with the closing level of NT$30.006 on Jan. 22, 2020, the last trading session of the Year of the Pig, the Taiwanese currency dollar continued to trend higher, up NT$1.616, or 5.69 percent, on the back of constant foreign fund inflows, at a time when the major central banks, in particular the U.S. Federal Reserve, kept pumping funds into the market to ease the economic impact of COVID-19.
The central bank said that it stepped into the local foreign exchange market to prop up the U.S. dollar and slow the pace of the Taiwan dollar’s appreciation, as a stronger Taiwan dollar, which hit its highest level in more than 23 years, sparked an outcry among Taiwanese exporters.
The central bank said it intervened to stabilize the market because of “large and sudden capital flows that caused excessive volatility.”
In recent trading sessions, where the U.S. dollar fell below the NT$28-mark at one point, the central bank entered the forex market in late trading to help the American currency recoup most of its earlier losses to close above NT$28.
Without such intervention, analysts said, the greenback would have fallen further against the Taiwan dollar.
On Friday, the Taiwan dollar rose to a low of NT$27.970 against the Taiwan dollar after opening at NT$28.200 before falling to its closing level, the lowest of the day.
Dealers said trading on Tuesday was light, as many traders were away for the Lunar New Year holiday.
In addition to its market intervention, the central bank has recently conducted a banking exam to crack down on speculation. On Sunday, the central bank announced that it had punished four foreign banks — Deutsche Bank, ING Bank, Citibank, and the Australia and New Zealand Banking Group (ANZ) — for helping grain companies to speculate in the forex market.
Dealers said that although the U.S. dollar index, which gauges the greenback’s strength against the currencies of the six major trading partners of the U.S., has shown signs of strengthening, Washington has come up with a new round of massive stimulus measures with liquidity expected to stay ample, so it remains to be seen whether the greenback will become stronger in the longer term.

Moderna to supply Taiwan with 5 million doses of coronavirus vaccine

Written by Cewej Kam