Wait, taken from the taxpayers? We already pay this profit as taxpayers (as consumers and taxpayers) and multiples above what is needed. Most of the base research is publicly paid for.

Pharmaceutical companies will develop products based on a specific conception of this market. This is a different set of priorities than the state. Moreover, they actively work to influence doctors, hospitals, and in the US have nearly captured all legislators. Selling and marketing account for more or equal to research and development.

Freedom of research is questionable. What if a disease/condition targets a segment of the population that is less profitable/politically important? Or if a competitor made an erectile-dysfunction drug then all others companies have to compete due to lucrative market rather than other needs.