> And how has regulation changed this?

I don't know. Nor am I aware of any study which shows regulation's effects, or lack thereof. I'm just saying that if regulation has benefits, they should be compared to the drawbacks before we forfeit them. If it has no benefit, of course get rid of it.

Anyway, as I said, I don't know a thing about pharmaceutical regulations. If you do, a few pointers would be welcome.