A red asthma inhaler typically contains a combination of medications used for the management of asthma and chronic obstructive pulmonary disease (COPD). These inhalers often include a long-acting beta-agonist (LABA) and an inhaled corticosteroid (ICS). This inhaler contains budesonide (a corticosteroid) and formoterol (a long-acting beta agonist). It's used to help control asthma symptoms and prevent asthma attacks by reducing inflammation and relaxing the muscles around the airways.