The system taken together is neither necessarily corrupt nor evil, but, like any human agency, is subject to the frailties and faults of humankind.
Profit comes from the sales of patent medicines.
Thus the flow of research funding does not extend to products which cannot be patented. The answer is quite simple, really. Ample medical research regarding progesterone was carried on in the 1940's through the 1960's, and amply reported in mainline, recognized medical literature. If progestins were the equivalent of natural Progesterone in effect and safety, the argument would be moot. Hormones are substances produced by several glands and organs in your body that are secreted directly into the bloodstream.