The international organization UNITAID will launch a new patent pool to lower the cost of HIV/AIDS drugs for poorer countries, the Executive Board announced Monday. The patent pool is set to open in mid-2010 and is expected to save over one billion dollars annually.

In a patent pool, companies allow their drugs to be produced generically in exchange for royalties, or a percentage of the revenue. This reduces the price of newer medications that are still under patent, making them more affordable for HIV-positive individuals in poorer nations.

The generic…