7/12, 8:19 AM (Source: TeleTrader)
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TSMC, Foxconn sign deal to buy BioNTech vaccines

Taiwan Semiconductor Manufacturing Co. and Foxconn announced on Monday they have signed a $350 million agreement to buy BioNTech's COVID-19 vaccines in order to help Taiwan speed up the pace of the vaccinations.

"Since we proposed the vaccine donation and started negotiating for the purchase, there had been no guidance or interference from Beijing over the acquisition. We appreciate that the negotiation was allowed to go through as a business matter," Foxconn founder Terry Gou shared in a Facebook post.

The two tech giants will spend $175 million each to acquire the vaccine doses that are expected to start arriving in Taiwan from the end of September.

Breaking the News / ND