The present invention provides a formulation comprising a corticosteroid and an insulin analog or pharmaceutical compositions thereof. Also provided is a formulation comprising a corticosteroid, insulin lispro and at least one organic acid or pharmaceutical compositions thereof. The present invention provides methods for stimulating bone and/or cartilage growth, for treating tendon and/or ligament damage, for stimulating hair growth and/or reducing hair loss, for stimulating growth of a tooth and/or periodontium and for treating tumors and cysts of the jaw by administering the formulations described herein.