Actually, its very easy. Government makes a list of life saving drugs. Then sets a maximum price on the drugs in the list. If a monopoly refuses to comply, the government calls for yearly bids from companies around the world (including generic drug makers from India). These companies fill the supply gap and in the meantime capitalism works and a local company steps in. There is no rocket science in manufacturing these drugs and pens - trivial once you have the recipe.

And countries, which put people before corporations, actually do this.