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Read about Propecia on wikipedia
Finasteride (marketed by Merck under the trademark names Proscar and Propecia, also available under several generic names) is a synthetic antiandrogen that inhibits type II 5-alpha reductase, the enzyme that converts testosterone to dihydrotestosterone (DHT). Finasteride is approved for the treatment of benign prostatic hyperplasia (BPH) and male pattern baldness (MPB).
History of Propecia.
In 1974, Julianne Imperato-McGinley of Cornell Medical College in New York attended a conference on birth defects. She reported on a group of hermaphroditic children in the Caribbean that appeared sexually ambiguous at birth. These children were initially raised as girls but grew external genitalia and other male features after the onset of puberty. Her research group found that these children shared a genetic mutation that caused a deficiency of the 5-alpha reductase enzyme. A deficiency of this enzyme suppresses level of the male-hormone dihydrotestosterone, causing alteration of the children's sexual development. Upon maturation, these individuals were shown to have small prostates and a lack of male pattern baldness.

In 1975, copies of Imperato-McGinley's presentation were seen by P. Roy Vagelos, who was then serving as Merck's basic-research chief. He was intrigued by the notion that decreased levels of dihydrotestosterone led to the development of a small prostate. Dr. Vagelos then sought to create a drug that would be able to reproduce the small prostate found in the pseudo-hermaphroditic children in older men who were plagued by enlarged prostates.

In 1992, the drug was first approved under the brand name "Proscar" by the U.S. Food and Drug Administration (FDA) for treatment of benign prostatic hyperplasia (BPH). In 1997, Merck was successful in obtaining FDA approval for the second indication of finasteride in treatment of male pattern baldness (MPB), and was subsequently marketed under the brand name Propecia.
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