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Not true at all. Look at Bio drugs for example. Even when they are to be generiqued, there is almost no company jumping in to make them because it's damn hard to make in the first place and there is very little incentive to do so, so the major players stay in place. A good example: all injectable diabetes drugs, but there are others out there as well.
Absurd, the price of albuterol has gone up 10 fold since patents have been reinforced on it. When companies have patents on life saving drugs they can charge whatever they want. If they have no patent, they are forced to keep the price low enough so no one wants to compete.
Some people are allergic to the new inhalers (sulfates can irritate the airways), which led to the creation of a black market for the old ones, but that supply is bound to run out eventually.
With insurance, I pay about $40 for one of the new inhalers (If you're poor and don't have insurance, you get to die, I guess). Generally they make my breathing more constricted for a minute or two until the albuterol kicks in, so I try to avoid taking a hit from my inhaler unless I'm really having trouble. Nice. Fortunately, since I moved to a beach town on the coast of Florida last year, I haven't needed my inhaler very often. Unfortunately, I'm no longer willing to relocate for work (dirty, city air is the worst), now that I've found a place where the air isn't trying to kill me. :)