In addition to all the info provided by Lucy, don't forget that all of the FDA approved medications come with warnings that include everything from growing a third eye to spontaneous death if you take them! Yeah, the FDA does a great job!
Our family takes natural thyroid tissue and I was just recently able to order it (have NEVER been able to get it in the U.S. w/out a prescription) after about six months of a severe shortage because of threats by the FDA counterpart in England to start regulating supplements, at least those shipped to the U.S. Even then, I got it from Mexico - just a couple of weeks ago I finally got an email from my supplier in England saying that it was again available.
We also use stevia, a natural plant derivative, for sweetening ice tea and other drinks. It costs a dang fortune because the FDA is in bed with one of the artificial sweetener makers (can't remember which one right now) and has said that stevia will never be approved for use in soft drinks and the like. By all means, keep letting us consume products that, whether you believe they actually do or not, are reported as causing all kinds of problems, including cancer. In Japan, all diet drinks are sweetened with stevia. It's the only sweetener you can buy that doesn't affect blood sugar.
I'm with Knight and TomO and KtoYou and everyone else who says NO to regulation - please let us take some responsibility for ourselves. And don't think for a minute that regulation will create competition and drive prices down. ALL regulation drives prices up due to compliance costs, not to mention the cost to the taxpayer for the bureaucracy they'll have to create or expand.