They would make so much money if they made a man drug. Steroids work really well, but they have nasty side effects. If they made a drug that could have similar efficacy, but with no side effects they would make so much money.
Heck it could even have really bad side effects and gear heads would still use it. Body builders take trenbolone, which is a drug that was developed for use as a cattle growth hormone, and the side effects are terrible. It causes insomnia, crazy high libido, rage, makes your blood thicker. It’s not even legal to use on cows anymore, they banned that decades ago. If the man drug has less side effects or better efficacy than tren then gear heads will buy it. There are way more steroid users than trans people, that’s where the money is.