This is wrong, I'm afraid.
First off, given the boundless evil and greed of Big Pharma, one wonders why they'd continue to spend money on animal trials if they achieve nothing more than the production of plausible deniability for the inevitable failures in clinial development. Given that they already blame their failures on the complexities of biology and the difficult regulatory environment, the benefit produced by pointing at animal test results seems pretty slim. How does your scenario work? "Well, shareholders, it's true that we've spent $50 billion this year and only put one new drug on the market, while we've had to withdraw three old drugs for unforeseen side effects, but, in our defense, we injected it into bunnies first and that seemed to work okay." Really, is that how you imagine it?
Second, do you by chance know how many potential compounds fail in animal testing before they even make it into people? If you start with 1000 compounds, and 900 are disqualified by preclinical testing (which includes animal testing) before the remaining hundred enter human trials, that's still a pretty substantial benefit. Indeed, that's about the proportion of compounds which are dropped prior to Phase 1, although the statistics I've seen don't break out animal testing specifically. The alternative to testing in animals, barring significant advances in computational predictive methods, would be to test each of those thousand compounds in people with minimal prior knowledge of safety. So for someone so concerned about animal welfare you're shockingly cavalier about the well-being of other human beings.
I wonder, do you resolve this apparent paradox by actually putting your own health and safety on the line by volunteering for Phase 1 studies? Do you keep your morals unsullied by refusing to take any medication which was tested in animals? Or are you a hypocrite in addition to being utterly ignorant?