I've posted on legalizing pot, and at least conceptually, other recreational drugs. I think that is an interesting social issue and it will be interesting to see how it turns out.
There is another aspect of pharmacological freedom that doesn't get much press. I suspect it is because there isn't a long line of aging hippies waiting to get on the band wagon. Another reason may be that since there is no recreational potential for these drugs, no one is interested. Pot's cheerleaders have always used medical marijuana as a stepping stone for legalizing recreational marijuana.
We've heard about the plight of terminally ill cancer patients who want to smoke pot to help with the chemo. I've seen people go through chemo. Despite the development of drugs like Nabilone, people want to smoke pot. When you see how sick they are, its hard to come up with reasons not to let them.
A more pressing issue in pharmacological freedom is the use of experimental drugs. Every year there are people dying of various maladies and there are companies trying to develop drugs to treat them. In the US the FDA determines which companies, which products and which group of people (by reason of control group studies) will get to participate in which trials.
True pharmacological freedom isn't just letting people smoke pot, its letting any patient try any therapy they and their doctor think may benefit them.
Are there risks in pharmacological freedom? Yes, of course. The right to take those risks belong to the people whose lives will be affected by them. If a person is sick and dying and there is a new drug in development that might help that person, why not let them and their doctor experiment with it? The manufacture needs data from human trials to demonstrate the effectiveness of the drug. The sick person wants to take a chance that might extend their life. None of this is the FDA's business.
If we are going to let the terminally ill smoke pot to ease their suffering, we should let them try whatever experimental drug therapies they deem acceptable to extend their life too.