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The world’s two biggest tech makers have signed an agreement to buy 10 million doses of BioNTech’s Covid-19 vaccine to donate to Taiwan, resolving an almost-year-long political standoff to secure jabs for the country.
TSMC, the world’s largest contract chipmaker, and Foxconn, Apple’s largest iPhone maker, said they have reached a $ 350 million deal with Chinese conglomerate Fosun, which controls distribution rights to BioNTech for Greater China.
The two tech companies stepped in because the sovereignty dispute over Taiwan had prevented Taipei from buying the BioNTech jabs.
China claims Taiwan as part of its territory and frequently tries to force third countries and companies to treat it as if it is ruled by Beijing.
Taipei had been trying since August last year to strike a deal with the German biotech company. But an initial contract signed in January was derailed after BioNTech demanded changes to the language describing Taiwan in a public announcement, according to Taiwan’s health minister. Beijing also protested against donations of vaccines to Taiwan by the United States and Japan as “interference.”
The Chinese government and Fosun have claimed they are happy to supply vaccines to Taiwan, but the Chinese company has not asked the country’s Food and Drug Administration to distribute the BioNTech jab in Taiwan – a step required for any importer. or drug dispenser. Local officials said Beijing refused to deal with the Taiwan government.
The standoff, which has persisted as shipments to Taiwan of other AstraZeneca and Moderna vaccine orders were delayed due to global shortages, increased pressure on the government after the island suffered its first major epidemic since mid-May.
The deal with TSMC and Foxconn helped bypass the political impasse. On Sunday, Fosun said in a statement that the jabs destined for Taiwan would be sold through its Hong Kong unit and a Taiwanese medical company to TSMC and the Yongling Foundation, the charity of Foxconn’s founder, Terry Gou.
In statements filed on the Taiwan Stock Exchange on Monday, TSMC and Hon Hai Precision Industry, Foxconn’s flagship company, said their respective purchases were worth up to $ 175 million each and that the vaccines would be donated to the Taiwanese Ministry of Health. Health.
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