The University is to help make essential medicines more accessible to people in the developing world.
It is among the first universities in Britain to adopt a humanitarian agenda for the licensing of its medical research.
Currently one in three people around the world have no access to the basic medicines they need.
Ten million children die each year for want of cheap and effective drugs.
The new policy aims to ensure that underprivileged populations have at-cost access to medicines developed by University staff.
When licensing its medicines, the University will aim to increase the availability of affordable medicines in poorer countries.
The University has worked with students from the Universities Allied for Essential Medicines campaign to develop the new initiative.
Mori Mansouri, UK national co-ordinator for UAEM, said:
"We want to ensure every health-related innovation developed in campus laboratories is made available in the developing world at the lowest possible cost."
It builds on a campaign launched by the World Health Organisation to improve global access to medicines.
The initiative is also supported by the Gates Foundation, the Clinton HIV/AIDS Initiative and the Department for International Development.
We are hopeful that by making our medicines as accessible as possible to those in greatest need, we will make a real difference to the millions of people who die from often-preventable diseases every year.
Photo by Julien Harneis, under a Creative Commons Attribution ShareAlike 2.0 License.