The present invention provides a pharmaceutical composition comprising human insulin, analogues or derivatives thereof, a combination of at least one or more amino acids and a halogenide optionally along with one or more pharmaceutically acceptable excipient(s), wherein pH of the pharmaceutical composition is in between 3.5 to 7.0. The combination of one or more amino acids and the halogenide substantially prevents the aggregation of insulin molecules by reducing surface tension and maintaining thermodynamic and hydrodynamic balance to keep insulins stable by maintaining their native state.