With respect to Vioxx first, the information about Vioxx only came to light because the manufacturer was trying to expand the indications for which it was approved. They thought it would help to prevent colon cancer. The researchers had to twist themselves into knots to hide the fact that this drug in fact was more dangerous, not safer. They had to suggest that naproxen was protective for heart attacks, not the opposite.
In effect, by allowing drugs on even faster, we are really risking not just one more Vioxx story, but many Vioxx stories, and we're going to repeat them again and again. So I would say let's err on the side of safety, let's use the precautionary principle, let's use good science, and let's beef up both pre-approval and post-marketing.