Have you suddenly felt ecstatic upon hearing the news about Russia’s COVID vaccine? Well, don’t get your hopes up yet!

On Tuesday, Russian President Vladimir Putin has announced their country’s first developed coronavirus vaccine offering "sustainable immunity".

"...for the first time in the world, a vaccine against the new coronavirus was registered" in Russia, Putin said during a televised video conference call with government ministers.

He added that one of his daughters had already taken it; he said she had a slightly higher temperature after each dose, but after that "Now she feels well."

Moscow-based Gamaleya Institute has developed the vaccine and named “Sputnik-V”, in reference to the surprise 1957 launch of the world's first satellite by the Soviet Union.

(Read: Russia Defense Military says COVID-19 vaccine is tested and safe)

Vaccine experts all over the world are worried about the ‘rushed’ development of the vaccine for the mysterious virus.

“I think it’s really scary. It’s really risky,” said Daniel Salmon, the director of the Institute for Vaccine Safety at Johns Hopkins University, in an article published by The New York Times.

Salmon and other health experts said that Russian scientists are taking a dangerous step by jumping ahead of the so-called Phase 3 trials, which can determine that the vaccine works better than a placebo and doesn’t cause harm to some people who get it.

The timing of Russia’s announcement makes it “very unlikely that they have sufficient data about the efficacy of the product,” said Natalie Dean, a biostatistician and infectious disease expert at the University of Florida who warned against rushing the vaccine-approval process, in a write-up published by the New York Times.

 Dean noted that even vaccines that have produced promising data from early trials in humans have flopped at later stages.

The World Health Organization has urged Russia to follow established guidelines and go through all the necessary stages to develop a safe vaccine. 

Meanwhile, the Philippines is ready to work with Russia on clinical trials for the coronavirus vaccine.

"The Philippines stands ready to work with Russia on clinical trials, vaccine supply and production, and other areas deemed practicable by relevant Philippine and Russian agencies to address this global health emergency," Malacañang said in a statement released on Tuesday.

President Rodrigo Duterte said that he’s willing to be the “guinea pig” for the vaccine against the coronavirus disease (COVID-19) developed by Russia, but it will still depend on the permission of the  Presidential Security Group (PSG).

Many critics say that Russia’s immediate push for a vaccine is partly due to political pressure.

Still, numerous coronavirus vaccines are currently being developed across the world.

On a lighter note, news and updates on the race for the much-awaited antidote is a good sign that there’s a possible way to end the health crisis.