Asked and answered

A bit more than a year ago, I asked:

why not simply have the government take over the human testing -- not the research or manufacturing, at least not initially (insert conspiratorial Marxist laugh here) -- for drug developers? You socialize the risk in the most expensive part of their operation, but in exchange you require the government be allowed to independently verify all of Big Pharma's claims about any drug. The public then has the chance to get early warnings on any problems.

And Dean Baker answers, with a fancy degree and everything, "indeed, why not?"