Big pharma is not like Bell Labs of old.
Then maybe this is a sign that things should change back towards that direction.
Sure - but it's a moot point unless you're proposing plausible ways of achieving that, and that could be adopted by a movement with credible political power.
Even Bell Labs would not be doing the type of research that is necessary. Look at all the innovation in science that happened back then! Bell Labs was an outlier but it was not the primary driver of science by any means.