Open Source Drugs? Are you serious? This isn't a simple field, that's like suggesting that people should engage in nuclear or particle physics research in their basement including full blown experiments that could lead to catastrophic consequences. There are several ways to help drug research, the protein folding distributed computing application is one, although some professionals doubt it will ever lead to a single drug.
You don't just create a drug and start testing on people. Drugs go through computer models, animal research and many other steps before a single human takes the chemical. This is a highly specific field requiring controls and methods that are going to be economically beyond all but the most advanced and they are already working in the field. Please consider that if you start making drugs and someone dies you will end up in jail for a very long time. There is a reason government highly regulates this stuff, it's an area where even with full safety measures and a lot of experience people can still be killed by drugs that have previously proven safe.
I work in a profession that requires a professional license to work in it, I like to think that gives me perspective that some things just aren't meant for amateurs to work on because of the potential for fatalities. Maybe there are areas where ordinary people can help in the research but I just don't see it.