Boehringer Ingelheim, a pharmaceutical company, has announced that it will be implementing a $35 monthly cap on out-of-pocket expenses for all of its inhaler products and devices starting from June 1. This move is aimed at reducing costs for vulnerable patients, including those who are uninsured or underinsured. Boehringer Ingelheim has expressed its commitment to ensuring access to important medicines for patients, especially those suffering from respiratory illnesses.
Jean-Michel Boers, the President and CEO of Boehringer Ingelheim USA Corporation, emphasized the company’s dedication to addressing challenges faced by patients with respiratory illnesses. He acknowledged that the U.S. healthcare system is complex and often fails to cater to the needs of vulnerable individuals. While he admitted that the company cannot fix the entire system alone, he believes that implementing this cap on out-of-pocket costs is a step towards making it fairer. Boehringer Ingelheim aims to assist patients with chronic obstructive pulmonary disease (COPD) or asthma who struggle to afford their medications by providing them with predictable and affordable costs at the pharmacy counter.
The cost cap will apply to Boehringer Ingelheim’s full range of inhaler products, including Atrovent, Combivent Respimat, and Spiriva HandiHaler. These products are commonly used to treat respiratory conditions such as asthma and COPD. In addition to capping out-of-pocket costs, Boehringer Ingelheim has also pledged to decrease the list price of some of its inhaler products. Although the company did not specify when these price reductions will take place or which items they will apply to, this commitment is an encouraging step towards making these medications more affordable for patients.
Boehringer Ingelheim has also acknowledged the need to address the issue of discounts and rebates not always being passed on to patients. While the company provides significant discounts and rebates to insurers and pharmacy benefits managers, it recognizes that patients do not always benefit from these reductions. By taking action to cap out-of-pocket costs, Boehringer Ingelheim hopes to ensure that patients directly receive the financial relief they need.
The announcement from Boehringer Ingelheim comes in the wake of the Senate Health, Education, Labor, and Pensions (HELP) committee’s investigation into the company’s inhaler prices. The committee, led by Senator Bernie Sanders, had expressed concern over what they deemed to be “outrageous” prices charged by Boehringer Ingelheim, as well as other pharmaceutical companies such as AstraZeneca, GlaxoSmithKline (GSK), and Teva. These companies were found to charge between $200 and $600 for inhaler products that are typically purchased on a monthly basis.
Senator Sanders commended Boehringer Ingelheim for its cost-cutting efforts and called on the other three pharmaceutical companies to follow suit. He stated that if Boehringer Ingelheim can cap the cost of inhalers at $35 and lower the list price of some of its products, then these other companies should be able to do the same. Senator Sanders emphasized that the Senate HELP Committee is committed to ensuring that Americans no longer pay exorbitant prices for prescription drugs.
In conclusion, Boehringer Ingelheim’s decision to implement a $35 monthly cap on out-of-pocket inhaler expenses is a significant step towards making these medications more affordable for vulnerable patients. With millions of Americans living with chronic lung diseases, such as asthma and COPD, this move will undoubtedly have a positive impact on their access to vital medications. The company’s commitment to reducing list prices and advocating for policy reforms demonstrates its dedication to improving the healthcare system. The Senate HELP Committee’s support for Boehringer Ingelheim’s efforts highlights the need for other pharmaceutical companies to take similar action and ensure that Americans are not burdened with excessively high prescription drug prices.
