Clinton announces AIDS drug initiative

The agreement between the Clinton Foundation and the drug companies aims to halve the cost of HIV/AIDS diagnosis and lower the price tag of second-line anti-retroviral (ARV) drugs by 30 percent or more.

"This is only the first step," Clinton said. "We expect to lower the cost of more second-line drugs later this year."

Clinton said the deal with the nine companies was a "step in the right direction" but admitted he would like to see more of the world's biggest drug companies on board. The deal Clinton announced involves smaller companies.

"This agreement today can help to save hundreds of thousands" of lives, Clinton said.

First-line drugs are used in the earliest stage of treatment. When patients become resistant to first-line treatment, more-expensive second-line drugs are given.

Some quarter of a million people already benefit from first-line treatment resulting from Clinton Foundation agreements announced in 2003, the former president said.

Clinton said up to 1 million people could receive first-line treatment at reduced cost through the new initiative by the end of the year.