For example if the costs are in screening molecular candidates, that could be done in a lab on a computer in India or Vietnam just as easily as in New Jersey.

The market can do this right now. The US has a lot of the talent and expertise, though.

If its clinical trials, Europe is cheap and Asia cheaper still, both with high quality medical staff. Etc.

While the FDA has accepted foreign drug trials as long as they are held to FDA standards, they still prefer to have trials conducted in the US that represent a US population. And no matter the case, it's still extremely expensive to meet these requirements.