If you have a $50M study that takes 10 years, $50M leaves the budget on approval and goes into a foundation dedicated to that study.
The alternative is this sort of atrocity - https://www.reddit.com/r/labrats/comments/1kh21p5/discarding...
Funding would be tricky. Nobody has pocketbooks big enough to send to the NIH other than the US government and we'd run the risk of it going years without money with hostile administrations. You might be able to self-fund if you included someone like the FDA in the mix and charged approval fees. But, ideally these organizations would be funded through general taxation as everyone benefits from their output. Funds shouldn't have to solely come from pharmaceuticals.
There are valid reasons to pull a study's funding early, politics aside.