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HIV drug could be made for just $40 a year for every patient
(www.theguardian.com)
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Here, the government negotiates the price for all medication and there is a cap of around 240 EUR per year per person. After that, all prescription medication is free.
You also get an increasing discount the closer to the limit you get. Before you have spent roughly 120 EUR you get no discount at all.
After that you get 50% off and after ≈ 180 EUR you get 75% and finally after ≈ 225 EUR you get 90%.
The cap and discount system also only pay for the cheapest available (in stock) medication at the pharmacy you go to which is usually a generic alternative. You can pay the difference (usually very little) if you really want non generic. Your doctor can say generics aren't an alternative, and if that is the case the discount obviously applies anyways.
Prescription medication is also completely free for anyone under 18.
This system works pretty well as far as I know. The main problem might come from the fact that people with specific and expensive medication will have to pay 240 EUR out of pocket at the beginning of each period (but nothing after that) this can be hard for some individuals. Fortunately you can ask for a partial payment in those cases.