Hi Margaret... Honey may soothe your granddaughter's throat a little and ease some of the coughing, but it will not really treat her asthma or relieve her symptoms overall.
If she is continually having trouble sleeping because of coughing, her asthma may not be under control and you (or her parents) need to speak with her doctor about whether her treatment plan should be modified.
I know it must be hard to watch her struggle to breathe, but the good news is that asthma can usually be controlled, once the right combination of treatment is achieved.
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