I actually think that more important than restricting the amount of pharmacist that qualify is the restriction and financial hurdle oput in place on pharmacy businesses. I think wages and profits should always be as high a level as attracts most competition.
@hauliesleap, as you are a professional in the medication business, maybe you could confirm to us how difficult it would be for you open your own pharmacy, from a licence and cost of licence point of view alone, i.e. dealing with government. Your post already hinted at the restrictions that are placed on where a pharmacist can source medication. This does mean that your boss cannot buy the same drugs cheaper in another country, isn't it?
All these things are forms of government intervention "for the public good", which result in higher costs to the consumer. I really do not care how much someone in the private sector is paid or how high their profits are. If it were so easy to make such huge profits then a lot more entrepreneurs would be attracted. So either it is an extremely difficult business to be in, or something is standing in the way of allowing more competition.