Here's a more robust pattern.
\s*(<br ?\/?>)+\s*
It matches all the following:
<br>
<br >
<br/>
<br />
Usage:
$str = preg_replace('#\s*(<br ?\/?>)+\s*#', '<br />', $str);
header('Content-Type: text/plain');
var_dump($str);
Output:
string(24) "<br /><br /><br /><br />"