I think maybe its about time we set up something life the NSF to conduct these trial for the FDA (in the particular case of orphaned and old drugs) and generally does a much better job of dealing with the mess that drug trails have come to be. At some point, this knowledge becomes a public good and the conflict of interest presented by those seeking to win approval also being the ones who stand to win a "get a monopo…
This would be a disaster. It really is expensive to test drugs, and so pharma companies must carefully consider which ones are worth pursuing. If they no longer need to bear the cost, then they'll just throw everything at the agency. Then the agency will either fall behind, so that good new drugs never get approved, or it will tremendously balloon the costs of testing (and we're already complaining about those costs).