Unless it takes real skill, real knowledge to create the workforce and tooling necessary to produce such a thing. With no IP protection I'm pretty sure that good old-fashioned corporate secrecy would still be quite profitable.

If in the case of medicines, instead of having carte-blanche to milk obscene profits for a long time, corpos were just limited to making decent money for a short while....that would probably work out in humanity's interest. Part of the reason medicine is so expensive in the West IMO, is the expense that's been mandated by the insane regulatory capture in the pharma industry.