Your argument is flawed. You are looking at market as a whole, as in all pharma companies.

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You overlook the individual company.

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Lets say I, a company, comes up with your wonder drug. Well now I win because I have that a natural monopoly on the market. All other companies cannot compete; and I become the biggest company in the history of man; owning all medical drug sales. Everyone else may lose money; but I do not care. I am rich; and I sell my drugs far and wide; not caring about the patients; only my sales.

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In fact, my paragraph is impossible. It assumes my opponents would just roll over and die. Not in capitalism; they compete. The other pharma companies will lower their prices. The idea being yes; this super pill will save you, but so will insulin; which I will now sell to you at a discounted rate; since something is better than nothing.

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Of course in the real world that would not happen either. In our time; the FDA would ban that wonder drug; and only approve it for specific things. This of course is not free market capitalism which is what I assume you are attacking. Our medical market is one of the least free and most oppressed market we have; much closer to socialism than anything else; just with private profits and social loses.

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Either way; claiming a system is flawed because it would not work in your utopia is nonsense