...economists no nothing!

If there was no demand there would be no supply. Why supply something that no one wants? Firms, any firms, only make what thay can sell, what is the point of making something they cannot seel, just to let it go to waste?

The problem is this kind. If your child is ill and you do not buy the medicine is going to die.
This is a demand, but to pay for the drug will have the burden to the rest of their lives, sell the house, etc.
You can not afford not to buy medicine! This is not a bottle of Coca Cola or Pepsi ... choose one that would be cheaper. As for drugs you do not have that choice, or you have a very limited.
So in this case you will pay any price for the product. Unfortunately, not everyone will afford it. And probably never will. The aim is not to achieve ideal (which is not possible), only the pursuit of it.
Pharmaceutical companies are not charities, but will use any situation to earn as much as possible. According to the principle of end justifies the means, of course. A simple example is the fraud of AH1N1. The disease kills thousands of people this is true, but there is no pandemic, which was published by WHO experts (paid for by pharmaceutical companies anyway). At the end, there are countries with millions of unnecessary vaccines. We must also mention the billions of dollars issued by governments (taxpayers' money). For example, France has bought two of the vaccine for each inhabitant! Why? It was not necessary and also very expensive. (There are more such examples.)
It's not supply and demand of what you say. This is fraud and abuse. The free market is essential as well as democracy. However, in many countries, democracy is in very bad condition, such as the free market.
This results in a lack of adequate regulation. But who would have made it (as you asked), I do not know. Maybe you'll tell me (you're the Master Cruncher not me :-)). You say that the WCG \ IBM provide a service and the projects are all Funded by Different organizations. But most important there are people who indirectly pay for these tests (computers and energy cost).
I will not give you ready-made solutions, but it is worth to think about it. When the morning turn on your computer (running WCG) do it with a view to improving the world.
I think how to improve my improvement. There are no ready, easy and quick solutions to difficult problems. But I think that should be honestly and openly talk about this problem. Which affects us all.
What do you think about that?