The Philippines' food and drug agency approved on Wednesday the emergency use of U.S. drugmaker Moderna Inc's (MRNA.O) COVID-19 vaccine in the Southeast Asian nation.

The known and potential benefits of Moderna outweighed the known and potential risks, Food and Drug Administration chief Rolando Enrique Domingo said during an online forum, adding it would be administered to individuals aged 18 and above.

The Philippines expects this month the delivery of 194,000 doses of Moderna's vaccine, the seventh to be approved for emergency use in the country.