Asthma Inhaler Costs to Be Slashed as Drugmakers Introduce $35 Price Cap
By Madz Dizon
Jun 02, 2024 06:55 AM EDT
© 2024 Copyright Venture Capital Post. All Rights reserved.
Jun 02, 2024 06:55 AM EDT
(Photo : JIM WATSON/AFP via Getty Images)
A significant number of Americans will experience a decrease in the cost of asthma inhalers. This positive change is due to the implementation of new out-of-pocket price caps for asthma medications manufactured by AstraZeneca and Boehringer Ingelheim.
Three major pharmaceutical companies-AstraZeneca, Boehringer Ingelheim, and GSK-have recently made a significant announcement regarding the pricing of their inhaler products. They have decided to cap the monthly cost at a reasonable $35, which is a positive step towards making these essential medications more affordable for patients.
President Joe Biden and Senator Bernie Sanders (I, Vermont) highlighted the issue of high prescription medication prices by hosting an event at the White House on Wednesday.
The focus was on urging corporations to reduce the cost of inhalers for asthma patients, aiming to alleviate the financial burden on those in need. Similar to insulin, the price of inhalers in the United States is considerably higher compared to other affluent nations.
A recent investigation by the Senate Committee on Health, Education, Labor and Pensions highlighted the significant price disparity between AstraZeneca's inhaler in the United States and the United Kingdom, NBC reported.
The report revealed that while the inhaler is priced at $49 in the UK, it is sold for $645 in the US. Teva Pharmaceuticals, a prominent inhaler manufacturer, sells their inhalers for $286 in the US, while the same inhaler is priced at $9 in Germany.
READ NEXT: Nevada to Implement $12 Minimum Wage on July 1, Impacting Overtime Rates
Here are the inhalers that are impacted by the price cap:
READ MORE: Donald Trump Faces $500 Million Loss Following Guilty Verdict; Truth Social Stock Plummets 9%
© 2024 VCPOST.com All rights reserved. Do not reproduce without permission.