Pharma companies also make and study dozens of drugs that don't make it. We need the successful drugs to fund the unsuccessful ones. Given that I believe there are still many more amazing drugs and medical interventions to be discovered, I don't think we should be reducing the profit to be earned in this space (because that's what induces people to continue to invest in research).
When you look at cost per life saved, pharmaceuticals are a bargain compared to hospitals or other parts of our medical system (esp. in the US).