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Sanofi-Pasteur just gobbled up Acambis for $549mn. Last year Acambis announced that it had a promising vaccine that is good in men & women & could also help folks already afflicted with recurrent HSV-2. This looks like the most promising breakthrough on the horizon and they are apparently supposed to be filing an "investigational drug" application sometime in 2009 which would make it more accessible to the public.
Harvard is somehow involved with this Acambis vaccine and they have a huge research endowment. The competition is fierce out there which is good for anyone with or at risk for HSV 1 or 2. American women are really affected by HSV-2 - about 30% and that just stinks. They estimate that a vaccine will generate the winner $2bn a year in revenue - that's a big prize. With the Valtrex patent expiring in June 2009 you're bound to see some breakthroughs.