I think it should be prescription only, simply because its a complete artificial meal replacement. I believe there are actually meal replacements for adults, often used in paliative care (correct me if I'm wrong) but none of us would just go and buy that off the shelf at the supermarket and drink only that. It's available only via professional advice and prescription.

Being the entire diet replacement for a new baby, I reckon formula should only be accessed via professional advice too. Not just at the supermarket where the manufacturers can mislead with all their labelling etc.

This doesn't necessarily take away choice, if you rock up to a health professional telling them you refuse to breastfeed any longer, well, they're not going to let the baby starve.. you'd still have access to formula.