How do you define waste? If research isn't harmful, but doesn't produce results, is that waste? Are inconclusive results wasteful? What ratio of public utility to cost would you consider non-wasteful spending? What about the benefits of effectively subsidizing your biotech sector by keeping biologists in-demand?
There is more upside (globally) to public health spending than maintaining a global empire that deals death and destruction. Trying to nitpick is missing the point entirely.