What it does is put the power of what is good and what isn't in the hands of the government, a government that has been known to abuse any power it ever gets over the years. This is not a good thing. We need LESS restrictions on medicine, not more. The more restrictions on it, the less freedom we have to choose what we wanna put in our bodies, and that is a bad thing. If you wanna restrict anything, ensure the safety of the drugs put on the market as is currently not done, that part of this can be a good thing if done right. But beyond that, industrializing of our medicine is a terrible thing.
Yes, industrialization of medicine is bad. Although standardization through the government allows greater quality control, massive amounts of prescription drugs make them easily and cheaply available. This creates abuse, as these drugs become available for recreational use when they can be obtained in greater quantities for a lesser price. Drugs should be prescribed in the least quantities necessary, and sold under the most strict of quality standards.
No, industrializing the medicine is not a bad thing. When medicines are processed industrially, there are very stringent quality controls and checks performed and the distribution of certain drugs (such as narcotics) is strictly regulated and enforced. All medicines will have consistent and measurable qualities, whether they were made in California or Maine.
The industrialization of medicine means that medicine can be made cheaper and at a greater standard of quality than it could have if it was not industrialized. The standards of industrialization must be strict to keep up with the various watchdog groups such as the FDA in the United States.