AIDS Deal: Four generic drug companies have promised to make drugs available to millions of people in African and Caribbean nations suffering with HIV and AIDS at about half the current price.
The former US president, Mr Bill Clinton, whose foundation has been pressing for cheaper treatments, said the more affordable drugs could help millions get a longer lease on life.
"There are five to six million people in the developing world with AIDS and in urgent need for the drugs," Mr Clinton told reporters at his New York office late on Thursday. "Only 200,000 to 300,000 are receiving treatment. The rest are simply being left to die."
Partnering with three firms in India and South Africa's largest generic drug company, Mr Clinton said anti-retroviral drugs will be offered at $140 per person a year, "almost half the current price of inexpensive commonly used drugs." Human right groups praised the move.
"Today's announcement marks a crucial breakthrough in the AIDS emergency," said Bono.
The William J. Clinton Presidential Foundation HIV/AIDS Initiative said the plan would get the cheaper drugs to about two million people by 2008. Worldwide, an estimated 42 million people suffer from HIV and AIDS.
Chopping the price of drugs in half is a huge issue for poor African countries, where many people survive on as little as $300 a year.
Ranbaxy Laboratories Ltd, Cipla Ltd and Matrix Laboratories Ltd, all of India, and South Africa's Aspen Pharmacare Holdings, will manufacture and distribute two of the most commonly used combination drug-therapy cocktails.
Mr Clinton said the foundation sent teams of health and business professionals to work with the companies to identify ways to slash costs and trim profits to a bare minimum.
So far, patients in the Dominican Republic and the Bahamas have received the drugs on a limited basis.
Mr Clinton said Mozambique, Rwanda and Tanzania and South Africa will start receiving the drugs soon.