To be fair, the top two baldness treatments were side-effects of drugs aimed at curing more "serious" conditions.
Rogaine was first developed as a cure for ulcers. That didn't work, but the researchers noticed that it served as a vasodilator and it was sold as a treatment for high blood pressure. That didn't work out either, but researchers noticed one weird side effect... [1]
Same for Propecia / Proscar, which started out targeted at prostate growth. It's effective at controlling prostate growth and in this case researchers realized that the same hormone channel that controls prostates (DHT) also affects hair loss. They then set out to find another way to monetize the existing drug.
Attempts to target baldness only have struggled (there has been a line of smaller companies trying to get baldness-only drugs through trials, which have mostly failed.)
[1] https://en.wikipedia.org/wiki/Minoxidil#History [2] https://en.wikipedia.org/wiki/Finasteride#History
This barrier to entry may decrease as biological models become cheaper and more accessible, but even as a hopeful bioinformatician, I am skeptical of this happening in the near term (10-15 years).
Even if a government research department was 20% less effective than an equivalent private sector research department (which I strongly doubt; they're probably equivalent), it would still be more cost effective. Pharma marketing budgets are titanic and that's an epic waste of money.
Pfizer: $7,690 million R&D, $14,809 million SGA
Merck: $6,704 million R&D, $10,313 million SGA
AstraZeneca: $5,997 million R&D, $9,951 million SGA
If he actually said that, it was a pretty stupid thing to say. Somewhat effective treatments against malaria have been available to western medicine since the 1600s (quinine bark) and pretty good synthetics since the early 20th century.
The first treatment for baldness that was even moderately effective (minoxidil) didn't even enter use until the late 1980s, and note (this is key) that its anti-baldness action was a serendipitous side effect -- the drug was originally developed for high blood pressure, not baldness.
Same thing with the other common whipping boy, V%%%%%a (not spelling it out lest it trip a spam filter). It was for high blood pressure and angina.
http://www.independent.co.uk/news/world/americas/bill-gates-...
“Our priorities are tilted by marketplace imperatives,” he said at the Royal Academy of Engineering’s Global Grand Challenges Summit.
“The malaria vaccine in humanist terms is the biggest need, but it gets virtually no funding. If you are working on male baldness or other things you get an order of magnitude more research funding because of the voice in the marketplace than something like malaria.”
And if you think that is stupid, here is what others say:
Mr Gates’ complaint is echoed by the Global Forum for Health Research, which estimates that only 10 per cent of worldwide expenditure on health research is devoted to the problems that afflict 90 per cent of the world’s population – the so-called 10/90 gap. Malaria is estimated to have killed 660,000 people in 2010, most of them African children. About half of the world’s population is at risk. The transmission of the disease can be controlled by distributing cheap mosquito nets treated with insecticides. Research into a vaccine for the disease has so far failed to yield any results.
2) "Research into a vaccine for the disease has so far failed to yield any results."
Maybe it gets "virtually no funding" because it's seen as an insurmountable problem given the current state of the art? The malaria organism is an entirely different kind of life form from the organisms for which human vaccines have historically been effective. It's a protozoan, not a bacterium or virus. As far as I know (and Google seems to confirm this) there is no vaccine for any human disease caused by protozoa.
Edit: this article describes some of the hurdles. It's not just funding.
None of those treatments are vaccines.
I'm not sure what makes stating those facts "deft maneuvering".
Open source reduces transaction costs and it also reduces startup costs.
http://www.fool.com/investing/general/2016/04/30/the-cost-of...
Also - read my link!