Since the curriculum at my school has just the "basics" the first year like A & P, micro/immuno, biochem, etc. and therapeutics doesn't start until the second year, they start IPPE after the second year. If you don't know anything about the therapeutics surrounding at least some classes of drugs, how are you supposed to see if you can apply the knowledge in a real world situation?
I don't think it will hurt in the long run, but it depends on when a school starts teaching therapeutics.