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The first generic versions of some key HIV drugs will soon reach the US market and could save nearly $1 billion a year, according to a new study.

The report, published in the latest edition of the Annals of Internal Medicine, found that in 2011, US spending on antiretroviral drugs totaled around $9 billion, mostly paid for by government sources.

However, researchers warned that the savings might come at the cost of more patients experiencing treatment failure.

Researchers said that findings from clinical trials revealed that generic drugs might be slightly less effective. They added that cheaper generics would also require patients to take three daily pills instead of one, which would increase the risk of some patients missing doses, leading to treatment failure.

"The switch from branded to generic antiretrovirals would place us in the uncomfortable position of trading some losses of both quality and quantity of life for a large potential dollar savings," said Walensky in a statement.

"By estimating the likely magnitude of these offsetting effects now - before generic antiretrovirals actually hit the shelves - we can confront our willingness as clinicians, patients and as a society to make these difficult choices," she added.

"The currently recommended treatment for newly diagnosed patients is a single pill (Atripla) taken daily that combines three brand-name antiretrovirals: tenofovir (Viread), emtricitabine (Emtriva) and efavirenz (Sustiva)," according to a report on the new study. "A generic form of the antiretroviral drug lamivudine, which has a similar mechanism of action to emtricitabine, became available in January 2012, and a generic version of efavirenz is expected in the relatively near future."

Researchers also warn there could be a loss of life expectancy of 4 and a half months.