Then in that case, if no saving can be achieved by manufacturing an older insulin, and if the only thing keeping prices up are the PBMs you refer to, a possible “solution” would be through the pharmacy side - open one that actually passes on the discount.
The general problem I see in all these types of situations is that the US has already departed far from a free market. Whether caused by socialism or cronyism (market manipulation with government help) you get decreased competition and a situation where it’s almost impossible for someone to start up new.
Hence my generic (pun intended) answer to complaints of high price is a de facto “do it better yourself” type answer. If you can’t, maybe you shouldn’t be telling others how to run their business. If you could, were it not for gov, then gov is the problem, not the business. Those that point to the business as the only bad guy and ask for yet more gov control are only going to make it worse.
I've used the "do it better" answer before also, to lay people who know nothing about the pharmaceutical business, except they think they know how it should be run. They equate making pharmaceutical products to making candy or widgets--the first few you make are expensive, but quantity of scale takes over and the millionth one costs just pennies. That's not exactly the case with pharmaceuticals.
Unfortunately, the conversation around pharmaceutical pricing has become emotional, and those against the industry aren't willing to listen to rational arguments.
It doesn't help our cause that we do offer less expensive medicines in certain countries, but then keep the price higher in the US. If the President wants to look out for US businesses, I'd love it if he would ask other countries to pay a more fair share for US drugs.