Does this sound like the new board will be the answer for drug safety? Why or why not?

Plans for a special monitoring board to keep checking on medicines once they are on the market were announced February 15, 2005, on the eve of a three-day scientific meeting on the safety of prescription painkillers like Vioxx and Celebrex that blossomed into a $5 billion-a-year business before potential killer side effects came to light. A medical journal questioned whether continued use of such products was justified. “Because there are well-established options for treatment of all the approved indications for these drugs, it is reasonable to ask whether the use of the drugs can now be justified,” Dr. Jeffrey Drazen, editor of the New England Journal of Medicine, wrote.
The FDA said it wasn’t currently planning to seek new regulatory authority, such as the ability to suspend the marketing of a drug when safety questions arise or prevent direct-to-consumer advertising of newly approved drugs. That would require changes in the law, but it said it could consider such a move in the future. Currently, the agency has the authority to force the removal of a drug from the market, but only if the product is an imminent health hazard, which might take years to go through the legal process. The board will be charged with making recommendations to the agency if it thinks action is needed, but will lack the authority to pull drugs or change labeling. It also is to recommend when the agency should alert consumers about potentially problematic drugs at an early stage.