All of this over-regulation is why medicine is declining in the first place. That shouldn't justify more regulation.
We put a price on human life all the time, not just for drugs.
Fixed. I also generally feel casual disregard towards human life and suffering as long as the human in question is not me, but lets call things with their real names.
With a price of drug per year being twice the average income in the richest country in the world - that creates impossible situation by definition for half of its populace.
Also value provided is not always correlated with value extracted - a janitor for a modest fee keeps my house clean. A hedge fund manager ruins the global economy just when I must enter my prime growing years in earnings and make sure I am at a disadvantage at both the cohort before and after me.
Which of those two lives is more valuable to me?
Even worse. There are a few gigantic outliers at the upper end of the scale. That means that the number of people below average income will be >50%. What you want to check against in such cases is the median (50:50 split by definition).
"Also value provided is not always correlated with value extracted"
That is exactly one of the main problems society is struggling with. How do we even measure value provided? It's a subjective measure to begin with. In the case of the hedge funds manager, it's probably net-negative for most people (but I'm sure her friends would disagree).