I just read about a brand of insulin produced for Wal Mart by Novo Nordisk, Relion. It is about $50 for a 3 month supply http://www.dlife.com/diabetes/insulin/trecroci_122707
When Gavi need to go on Novolog, I plan on asking his endo. about this. We already pay an arm and a leg for his Lantus and Aingulair, it would be nice if we can save some money somewhere.
I started off taking generic meds like glimepiride when I was diagnosed diabetic. I stayed in the hospital, had constant high BG numbers and A1C's. So I started seeing a new doctor who was an endocrinologist and immediately took me off the generic med because he thought they were ineffective and the only benefit was cheaper prices. He told me he'd rather prescribe me the best meds so that I could live a healthier and longer life than giving me some knock off medicine that would only cause more complications. Since I've been off glimepiride everything has been great. I would just be careful and do research before trying any meds.
To help you understand better, the industry already does offer the less effective insulins like Regular, Novolin and Novolin 70/30 at a reduced price. They aren't generic, but are less expensive because they've been replaced by something better.
The better insulins like Novolog and Humalog (start time is dramatically faster than Regular) and Lantus and Levemir (lasts longer and has less dramatic peak than Novolin) cost more. They won't offer generic prices on these until more effective insulins replace them.
I've been diabetic a long time and have used each of these insulins over the years. When I haven't had insurance I've been grateful for Regular and Novolin. But if you have insurance or are well off, the more expensive types really are worth the money.