This is one of those situations where we want the market to solve it, but we probably aren't prepared for what a totally unencumbered market response would be. We've likely over (or at least poorly) regulated drug development, and since most things are cyclical, it will probably swing the other way at some point. That's probably good, as long as it doesn't swing too far. I want a more efficient system, but not necessarily at the expense of a few million casualties from cascading mistakes.

Unfortunately, since it has to do with people being hurt, or the possibility of people being hurt, I think it's unlikely we'll get legislation or a majority of politicians that are willing to look at it rationally. It's too easy to drum up emotional support for some aspect or another for personal gain.