The R&D costs argument is a diversion. Profit margins for Pharma companies are consistently 3-5x of more competitive industries (e.g. car makers [1], [2]). Health is a failed market full of rentier corporations.
It's hard to argue against them because they are doing good (inventing life saving medicines) but the opportunity cost of money paid out as profits instead of reinvested into research must be huge.
[1] https://ycharts.com/companies/VLKPY/gross_profit_margin https://ycharts.com/companies/BAMXY/gross_profit_margin