The other thing is, if the aim of keeping these compounds secret is to make it harder for the government to ban them so they stay on the market longer, this would not be effective in the long term anyway, because instead of having each compound looked at individually and assessed for whether it is harmful enough to be banned, this kind of secrecy makes it more likely that they will just pass broad laws banning any kind of "unauthorised pharmaceutical product".
Would be pretty easy to do, the existing legislation in most countries has a definitions section in the Medicines Act or equivalent that defines any compound that for instance
"Otherwise prevent or interfer[es] with the normal operation of a physiological function, whether permanently or temporarily, and whether by way of terminating or reducing or postponing, or increasing or accelerating, the operation of that function, or in any other way"
as falling under the definition of a medicine, and so in theory it wouldn't even take statutory change, just a case law precedent that decides that any random compound being sold to the public can be shown to be "interfering with a physiological function" and hence should be considered an unlicensed medicine and banned on that basis.
Such a broad precedent as this would create various problems (mainly with the legitimate dietary supplement industry) and so a court would be unlikely to take the initiative themselves, but it would be very easy for a legislature to do so because they wouldn't even have to change the law, just reinterpret it, and in my opinion the most likely reason for them doing this will be the current proliferation of supposedly legal consumer products containing all manner of research chemicals without saying what the ingredients are on the bottle.
The current situation is no better than with the "patent medicines" back in the 1890s, in fact the parallels are rather close, and the problems that resulted from unregulated sale of pharmaceutical products back then are one of the main reasons that led to the ridiculously strict medicines regulations and drug laws we have now days.
