Risks that are not adequately compensated do not get taken. Not for long. With the best of intentions, New Mexico legislators introduced several bills in the 2001 session designed to control drug pricing. None of them passed. Government interventions can be justified when markets do not operate with perfect efficiency.
Price control is the nuclear bomb of government intervention.
In effect, government would determine what constitutes a fair price and, therefore, what risks a drug company will take. The lower the price, the less risk will be taken. The less risk that can be justified, the less innovation that can occur. The less innovation, the fewer pharmaceuticals that get developed. And then you die.