Bristol-Myers Squibb and Gilead to work on combined HIV pill

Bristol-Myers Squibb is set to develop a once-a-day pill to treat the HIV virus that combines its Reyataz medicine with an experimental drug made by Gilead Sciences.

In a joint announcement, the companies said the new treatment will contain Reyataz and Gilead's cobicistat, a 'boosting' agent designed to increase blood levels of certain HIV drugs.

A licensing agreement has been signed, with Bristol-Myers Squibb set to pay Gilead an undisclosed royalty based on annual net sales.

The former company will be responsible for the formulation, manufacture, registration and distribution of the pill.

Elliott Sigal, executive vice-president, chief scientific officer and president of research and development at Bristol-Myers Squibb, described the agreement as further evidence of his company's "longstanding commitment" to developing HIV medicines.

He claimed the drug has the potential "not only to help simplify HIV therapy but also to address an unmet medical need in HIV for additional, innovative treatment options".

Based in California, Gilead produces the HIV medicines Atripla, Complera, Truvada and Viread.