It's naive to think that high capital, high knowledge required industries would suddenly be in a neat price competition market if we only just stopped regulatin

It's naive to think that high capital, high knowledge required industries would suddenly be in a neat price competition market if we only just stopped regulating the patents or enforcing manufacturing quality standards. Expired patents didn't keep generics manufacturers from raising prices on US consumers. And even allegedly colluding on price fixing. And removal of manufacturing QA is a recipe for flooding the market with counterfeit and ineffective drugs. Imagine if you didn't know if your cancer drug actually had sufficient active ingredients in it or any active ingredients for that matter. Individual testing at scale for something as complex as drugs is massively more expensive and fraught with distributing all sorts of failures. That is not to say we shouldn't fight for efficient regulation, and against regulatory capture.