A new HIV prevention drug will be made available at a lower cost in over 100 low-income countries within two years — a move expected to give millions access to the breakthrough treatment and potentially bring the world closer to ending the HIV/Aids epidemic.

The drug, called Lenacapavir and administered by injection, is due to be rolled out as early as the end of this year, at a cost of $28,000 (£20,000) per person annually.

But Wednesday's announcement promises to slash that price to just $40 — around 0.1% of the original cost. The lower-cost version will be rolled out in 2027 across 120 low- and middle-income countries.

Scientists say the drug stops the virus from replicating inside cells.

The landmark deal to provide cheaper antiretroviral drugs for people with HIV in developing countries was brokered by former US President Bill Clinton after negotiations with pharmaceutical companies.

The agreement announced on Wednesday was reached between the Clinton Foundation in partnership with the Gates Foundation and other groups, including South Africa's research institute, Wits RHI.

The injection is taken twice a year and provides six months of protection against HIV infection at a time. Experts say long-acting injectables like Lenacapavir could help reduce new infections in populations that are most vulnerable, including adolescent girls and young women, LGBT people, sex workers, and those who use drugs.

Lenacapavir has already been approved by the US Food and Drug Administration and the European Commission this year, with hopes it will be available within 18 months at the new price.

Despite significant progress in reducing global HIV rates since 2000, the need for accessible treatment remains critical, especially with approximately 40 million people currently living with HIV worldwide. The announcement comes amidst challenges in funding and health services aimed at combating the epidemic.