(Bloomberg) -- Mexico and Argentina have reached agreements to produce the U.K. drugmaker AstraZeneca Plc’s promising Covid-19 vaccine for Latin America, the nations’ governments said.

The countries will make 150 million to 250 million initial doses of the potential Covid-19 vaccine designed by scientists at the University of Oxford after the required trials, Argentine President Alberto Fernandez and Mexican Foreign Minister Marcelo Ebrard said in messages on Twitter on Wednesday night. Billionaire Carlos Slim’s foundation is helping finance the plan, Ebrard said.

The goal is to produce the vaccine as of the first half of next year, and there will be no profits from it during the pandemic, Fernandez said in his statement following a meeting with representatives of AstraZeneca. His health minister said Argentina will prioritize getting the vaccine to the elderly, medical professionals and people with pre-existing conditions.

Ebrard said that he will give more details early Thursday, along with Andres Manuel Lopez Obrador’s health minister. AMLO, as the president is known, often has cabinet officials join him at his morning news conference. Mexico is third in the world in confirmed Covid-19 deaths with more than 53,000, trailing only Brazil and the U.S., and Latin America accounts for half of the 10 countries with the most cases globally.

©2020 Bloomberg L.P.