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Senate probe foils vaccine overpricing. Inquirer Newsletter. January 19, 2021

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Senate probe foils vaccine overpricing

By Melvin Gascon

The government could have lost some P16.8 billion from overpriced coronavirus vaccines had the Senate not inquired into ongoing negotiations for the Sinovac shot, which has been chosen by Malacañang, Sen. Panfilo Lacson said on Monday.In a privilege speech, Lacson said testimony during the two-day inquiry by the committee of the whole would indicate an attempt to overprice the vaccine.

“Again, when there is an attempt at overpricing, isn’t it also logical to think [that somebody would make a lot of money]?” he said.

The senator was referring to government claims that it had been able to lower the cost of the Sinovac vaccine, bringing it at par with prices in other Southeast Asian countries.

$350M price difference

Lacson cited figures earlier released by the Department of Health (DOH) that the government was set to spend P3,629, or about $38, for two doses of the Sinovac vaccine.

“In any case, if indeed it is true that the government was able to bring down the cost from P3,600 to P650 per dose, or at least 60 percent lower than the previous DOH figures, well and good,” he said.

“Imagine this ... if this Sinovac controversy was not tackled in the Senate, and assuming that the deal for the original price of P3,629 or $38 for two doses, or P1,814 equivalent to $19 per shot, against the $5 in Thailand, easily the price difference of 25 million doses would fetch $350 million or P16.8 billion,” he said.

While he conceded that he was not ready to accuse anyone in the government of involvement in corruption in the vaccine deals, Lacson said the discrepancy in the prices as shown by the DOH figures and the published cost of the Sinovac shot in other countries “defies logic.”

“When the Pfizer issue came about, we asked: ‘Who dropped the ball?’ We haven’t even gotten a clear answer ... and now, on the Sinovac vaccine, we ask, ‘Who dropped the price?’” Lacson said. —WITH REPORTS FROM JEANNETTE I. ANDRADE AND LEILA B. SALAVERRIA INQ

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