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Yes, it is.  What is your point?

Welcome to the world where governments can set drug prices.  To be fair, the Centers for Medicare and Medicaid services probably pays more than any other single provider in the US and thus they should be entitled to the largest discount.  There are very few competitive industries where the biggest customer doesn't get the best price.  If a company doesn't like this arrangement they don't have to sell to the government at all, the government cannot compel a company to do business with it, but if the company chooses to take government money then there are price strings attached.  At least in the US the price only applies if the reference customer has comparable terms and conditions, which means time for payment, quantities ordered and other factors.  If the government does not order as much as a PBM or does not pay as promptly, then the PBM can get a better price than the government.  That is fair.

However, it is much worse in other countries.  Many countries have implemented pricing methods that limit drug prices to the prevailing market price in a basket of named countries and the manufacturer must disclose those prices.  Japan does it, several European countries do it, and most developing countries have started doing this.  The problem is that a price discount in one country has a ripple effect across the world that causes the price in all countries to drop.  Some pricing formulas are reasonable, while some are stacked against the company. 

Brazil looks for the lowest price based on the active ingredient in nine specific countries, but one of those named countries is Greece where the drug market is a pricing disaster.  Humulin R and Novolin R which both have a retail price of about $150 / 1000 unit vial in the US have a government enforced import price into Brazil that is about $9.60 at current exchange rates.  Injector pens are priced about double that amount, which is no where near the $500 retail price in the US.  In turn, the government set import price of $9.60 is used to set the maximum price charged to pharmacies (about $12.00) and the maximum consumer price pharmacies can charge (about $16.60 including a 20% sales tax), and government entities in Brazil pay 20% than the permitted import price (about $7.70).  It remains to be seen how Brazil will price Afrezza, but the company preaches that Afrezza is "just insulin" so expect the authorities to start with the prevailing prices for recombinant human insulins and add a small premium for the convenience of the delivery method they way they do for pens.

Increasingly, government across the world exchange price information to insure that they are getting the best possible price.  Then there are place like Spain where it is illegal not to fill a purchase order that comes from a government entity.  That is fine if the entity is the local government in Madrid that tends to pay their invoices in about 180 days, but not such a great deal if the order comes from one of the poor provinces that take 18-24 months to pay.

No matter how bad you think the market prices and formulary access is for Afrezza in the US, remember that every other country in the world is worse and the growing number with government price controls are much worse.