That specific medicine is about a molecule that was insufficiently vetted.
It does not seem as egregious as the risk of getting medication made in other countries. As far as I know, all the patented medicine comes from barely audited factories in places like India anyway.
Yes yes, it's super beneficial to destroy the incentive for anyone to risk billions of dollars and decades of research to develop new breakthrough medications for people
As stated elsewhere, the competition in pharmaceuticals does not live (nor should it) in cost of production. It's in R&D. So no, pharma companies cannot systematically dump billions of dollars into developing new medical breakthroughs and then race to the bottom on production efficiency with unregulated pill mills from every backwater on the planet with an Internet connection and a parcel service.
At least, not if you want science to move forward in your lifetime. As a person who has used, currently uses, and will in the future use medicines, I really prefer that we don't eliminate the financial viability of efforts to continue making better ones.