Bristol-Myers Squibb Drastically Cuts Prices for AIDS Drugs in Africa.

Byline: Lewis Krauskopf

Mar. 15--A second pharmaceutical giant has offered to give up profits from AIDS drugs in Africa in response to growing pressure over providing access to the life-saving medicines in developing countries.

Bristol-Myers Squibb Co. said Wednesday it would make available its two anti-retroviral medicines -- Zerit and Videx -- for a total of $1 a day in all African countries, where more than 25 million of the world's 36 million AIDS and HIV sufferers live. Bristol-Myers said it will be selling the drugs at below cost.

New York-based Bristol-Myers, which runs its research facilities from Princeton, also vowed to remove patent barriers for other companies to produce the AIDS therapy in Africa.

The move by Bristol-Myers follows an announcement by Whitehouse …