I think the problem is the fact that pharmaeutial companies are trying to turn a profit to ensure their survival. If you invest a billion dollars in a new drug

I think the problem is the fact that pharmaeutial companies are trying to turn a profit to ensure their survival. If you invest a billion dollars in a new drug (which is the average cost these days) and its a flop, are you going to adverise it or is it in your inerest to be silent and hope another drug company makes the same mistake as you and suffers the same opportunity costs, therefore minimising your losses. This is a quintessential problem between public and private research.