Ask HN: What would you think of no-IP pharma?

What would you guys think about a potential pharmaceutical agent released with explicit anti-IP protections? I.E. that no pharma company would be able to exercise patenting rights on its use. I'm in a position to influence this to happen, obviously I think this is a good idea. Pros? Cons? Do any copyleft/no-ip folks know if this has been tried before? A cursory search says no, which doesn't suprise me considering how enthralled to the system many of my colleagues are.