So, he was carrying it around with him in violation of school policy?
He saved her life? Perhaps he did. By the way, were both students using the same drug in their inhalers? Was it albuterol, ventolin, or salbutamol?
Maybe it was salmeterol, used in Serevent Inhalation Aerosol, Serevent Diskus and Advair Diskus, a drug that the FDA says carry a small risk of a life-threatening asthma attack.
What if his inhaler had complicated her asthma attack? Who would the parents have sued? The "hero" or the school?
I'll make you a deal. Remove the school's liabilty, and the kids can carry all the legal drugs they want. Pretty soon, the parents will be crying for regulation because the kids are trading Ritalin and Prozac, and every other prescription drug, but hey, "they're old enough to know what they're doing", right?
How about a deal in which we use common sense not only at school but in tort law. Neither seems likely to happen.