I think the argument is that the drugs would simply not be developed at all. Personally I'm inclined to call the bluff as it's not clear that the profit motive

I think the argument is that the drugs would simply not be developed at all. Personally I'm inclined to call the bluff as it's not clear that the profit motive has led to the most effective drug development—there's a huge sales culture in pharmaceuticals that incentivizes prescription drugs beyond the balance that doctors and patients would naturally arrive at.