Medical research is conservative, cautious, and regulated because we strive to move beyond the ugly abuses of our past[2]. It should not be the Wild West.
For insight into modern medical ethics, read the Belmont Report[3]. It's what contemporary researchers must read before conducting any studies involving human subjects. Where I work, we're tested on it.
(This is opinion, but...) Harm today is in research guided more by profit than by benefit. Chronic disease is more profitable than cures or prevention. With rapidly-emergent antibiotic resistance there is little private incentive to develop new antibiotics. We must rely on and expand research in the public interest (funded by NIH, philanthropy, and so on) to balance private biomedical research.
1. https://en.wikipedia.org/wiki/Primum_non_nocere
2. https://en.wikipedia.org/wiki/List_of_medical_ethics_cases
3. http://www.hhs.gov/ohrp/humansubjects/guidance/belmont.html