Biden-Harris Focus on Lowering Costs Results in $35 Inhaler Price Cap for All Americans

FOR IMMEDIATE RELEASE: June 3, 2024
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BIDEN-HARRIS FOCUS ON LOWERING COSTS RESULTS IN $35 INHALER PRICE CAP FOR ALL AMERICANS

Put in motion by the Inflation Reduction Act and pressure from the Biden-Harris Administration on drug manufacturers, the $35 inhaler price cap will save 27 million Americans with asthma thousands of dollars per year

WASHINGTON, D.C. — This month, prompted by pressure from the Biden-Harris Administration, the three largest inhaler manufacturers all agreed to limit the out-of-pocket cost of inhalers to just $35 a month. In celebration of this price cap, which went into effect on June 1st, Building Back Together Executive Director Mayra Macías issued the following statement:

“Thanks to the Biden-Harris Administration’s unwavering commitment to reducing health care costs for hardworking families, millions of Americans who have asthma will no longer be burdened with inflated prices for essential, life-saving medication. This measure is a significant step in the Biden-Harris Administration’s ongoing efforts to take on Big Pharma and hold greedy corporations accountable —putting money back into the pockets of everyday Americans.

“President Biden, Vice President Harris, and Congressional Democrats recognize the financial pressure and barriers to success that high health care costs create, and we celebrate their unwavering commitment to fighting corporate greed on the American people’s behalf.”

This important move comes as asthma rates in the United States have been increasing, particularly among underrepresented and minority communities that have limited health care access and greater exposure to pollution. These challenges are only exacerbated by climate change — heightening the need for inhalers and underscoring the critical necessity of capping these artificially high costs.

Since taking office, the Biden-Harris Administration has secured major victories for the American people in the fight against high health care costs — including capping insulin prices for people on Medicare at $35 per month, limiting seniors’ annual out-of-pocket drug costs to $2,000, preventing price hikes on prescription medications that exceed inflation, reducing insurance premiums for individual coverage and allowing Medicare to negotiate lower prices for essential medications.

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