If <insert big pharma here> won't sell cancer drugs for reasonable prices in my country then we will have local companies ignore patents and produce knockoffs instead and sell them at production cost.

Which is exactly what's happening in india for example. Remember that you're not stealing anything. Just making copies.

Of course treating cancer does not have the same societal value as getting hollywood entertainment, but it's still a market failure when the content industry cannot satisfy demand in those countries. And at least turning both eyes is a much better approach than criminalizing millions.

Copyright only exists to promote selling content, take that away and copyright vanishes right along with it.

    To promote the Progress of Science and useful Arts, by 
    securing for limited Times to Authors and Inventors the 
    exclusive Right to their respective Writings and Discoveries.