BREAKING: Pharma Giants Slash Inhaler Prices Amid Investigations Into Their Greed
AstraZeneca announces it will cut inhaler costs from $645 to just $35 in a major win for the Biden administration and Bernie Sanders.
Under pressure from Sen. Bernie Sanders and the Federal Trade Commission, pharma giant AstraZeneca announced Monday that it is cutting the out-of-pocket cost of its inhalers to just $35 per month for most U.S. patients, down from as much as $645.
AztraZeneca is one of four manufacturers that dominate the inhaler market. Their announcement comes 11 days after another major inhaler maker, Germany’s Boehringer Ingelheim, also committed to cutting out-of-pocket costs from as high as $545 to $35.
More than 40 million Americans rely on inhalers to breathe. Asthma alone kills 3,500 people every year, and nearly all of those deaths could be prevented if patients had reliable and affordable care.
President Biden’s Federal Trade Commission started this effort last year by challenging the patents that manufacturers have been extending illegally for years. Bernie Sanders and the Senate HELP Committee have maintained consistent pressure in subsequent months, while also negotiating with the CEOs behind the scenes to engineer these developments.
We broke down the whole issue in a video this January — watch it here:
In combination with efforts to drive down the costs of hearing aids (by dramatically expanding the availability of devices without a prescription, exam, or audiologist fitting) and insulin (by capping costs at $35 for millions), the Biden administration is making a real positive impact on the lives of tens of millions of Americans.
Here’s a brief timeline of how it happened:
Sept 2023: FTC announces a new policy statement on Orange Book patents
Nov 2023: FTC writes to AstraZeneca, Boehringer, and eight other firms about their violations on patents for inhalers and other medical patents
Jan 2024: Bernie Sanders and the Senate HELP Committee write to major inhaler makers to demand that they reduce costs
March 7: Lawsuit by Massachusetts Laborers' Health and Welfare Fund against inhaler makers
March 2024: Boehringer and AstraZeneca announce a $35 inhaler price cap for all patients, including those without health insurance
Now we need the final two major inhaler makers—Teva and GlaxoSmithKline—to follow suit.
Great that its happened but where was the oversight if they have been extending patents illegally for years. Let alone the fines that should be paid for doing so.
That's a huge win!