A few facts about the pharma companies. I don't work for a pharma company, BTW, I just find them interesting so did some research.
Very, very few do actually make any money. In the UK, only two (GlaxoSmithKline and AstraZenecca) have ever made a profit. Every single other UK pharma or biotech company is currently loss-making. Although it has to be said that AZ and GSK, because they identified blockbuster drugs, are doing very nicely thank you.
For every 1,000 potential drugs that researchers identify (whether the researchers are employed by pharma companies, universities, independent research organisations or charities) only 1 will ever make it to production and sale. The rest will be binned because of adverse results from clinical trials - generally because the drug is ineffective for its intended purpose, but some because harmful side-effects have been identified that outweigh potential benefits.
It costs, on average, $1 billion to develop a new medicine from initial concept to production and sale. If anything, pharma companies are more likely to can a product with marginal clinical trial results than push it forward because they simply can't afford to throw more money at a product which will almost certainly never see the light of day.
In the UK there are, broadly, three levels of clinical trials. The first, for a small number of health individuals, pretty much just tests that the new drug won't kill you. The second, for a small number of individuals who are generally suffering from the disease in question or are in a risk group, tests whether the new drug actually does any good. The third, for a large number of ill or high-risk individuals, tests whether the new drug is better than existing products on the market (generally either because it lasts for longer, or is in an easier form to take - tablet rather than injection, for example, or is genuinely more effective).
Clinical trials have been tightened up enormously since thalidomide.
Don't also forget that even if a product passes all of the above tests, then there are ongoing trials once it is in mass use to indentify ongoing issues.
In my view, it's actually very rare for a drug to receive approval in the UK, Japan, the US and the EU (don't know about the rest of the World) and for it subsequently be found to be cause more harm than good. (Vioxx would be an example of one that, arguably, slipped through. As someone else noted above, it was voluntarily withdrawn by its manufacturer, Merck.)
If I had a daughter, I would want her to have the vaccine.