The compounds w/in them that are active are known to the pharm industry. In fact, they're known to the point that some are isolated (key word...isolated, oils contain tons of compounds) and used to model drugs that are used on the market today.
Anyone that has been through an organic chemistry lab can make you aspirin from wintergreen oil.
I actually think most of the oil companies are scientifically lazy. Why get the good stuff out when we can get you to buy it in the raw form at 10x the cost?
A BYU grad and current Yale prof that I met at some fancy-pants academic conference takes his research group down to the Amazon rainforests to find new drugs. Nature has always inspired medicine.