Glaxo Wellcome

(GLX)

reached an agreement with Senegal to sell the country its anti-AIDS drugs at a discounted rate.

The pact is one of the first in an initiative by five major pharmaceutical companies to offer drugs to poor, AIDS-embattled African countries at sharply reduced prices.

Glaxo said it agreed to supply Senegal with its anti-AIDS drugs Retrovir, Epivir and Combivir, for about $2 a day and is also discussing similar agreements with Uganda and Kenya.

The other companies taking part in the U.N.-led initiative are

Merck

(MRK) - Get Report

,

Bristol-Myers Squibb

(BMY) - Get Report

, Swiss company

Roche Holding

and Germany's

Boehringer Ingelheim

, which has offered its drug nervirapine free to poor nations for the next five years.