The flip side would be more money available for the institutions that actually create new medicines. I'm not saying it's a better tradeoff, just that it's not so single dimensional.
I do not believe those institutions are lacking in funds for research. Even if they get more funds, they will still be incentivized to do R&D only on high-potential opportunities with high probability of product development success. Shareholders wouldn't care to let them just spend money just anywhere and waste it.