This is a very disingenuous comparison. For any given food, there are a large number of both perfect and imperfect substitutes, which is very much not the cases

This is a very disingenuous comparison. For any given food, there are a large number of both perfect and imperfect substitutes, which is very much not the cases for patented medicines. It is also much easier for individuals to grow their own food than it is to manufacture their own pharmaceuticals. But beyond that, food is one of the most regulated markets in modern society. Farm subsidies, food assistance programs like SNAP, strategic food reserves, and any number of other programs function as "soft" price controls. I don't think that "changing pharmaceutical regulations to match the food industry" means what you think it does.