No. The link I provided had the answer for that. To get a drug past the FDA now costs 2.5 billion dollars. How is a company going to recover that cost if someone else can sell the same chemical under a different name? This gigantic hurtle is getting people killed. Maladies with small markets have to be ignored. If ever there was a need for deregulation this is it. It should be noted the giant companies like it this way: it makes new competitors all but impossible.
3) The US cannot shoulder the cost of pharma's profit entirely. Right now the USA is 90% to 110% of Pharma's entire profits depending on which source you believe. By allowing importation of drugs, pharma will be forced to deal with other governments. As long as they can just charge ridiculous prices to US consumer, they have little incentive to rock the boat overseas.