The cost of medicines imposes a significant financial burden on society, with New Zealand spending $783.6 million between 2012 and 2013 alone. The majority of these costs are due to the monopoly prices charged for new patented drugs. The pharmaceutical industry argues that these high prices are necessary to recover the costs of drug development, which can exceed a billion dollars for a single drug. Because new medicines are relatively cheap to reverse-engineer and manufacture, in absence of a minimum period of exclusivity provided by patents, it is alleged that it would not be commercially viable to develop new medicines. Most criticisms of the patent system relate to the high prices charged for patented medicines. However, there is another issue which has received limited academic commentary to date, namely, whether the pharmaceutical industry’s reliance on patents means that otherwise socially valuable medical therapies are being screened out or ignored, and whether alternative incentive mechanisms are needed to address this problem. The aim of this thesis is to address this issue. First, the laws applicable to patentability and regulatory approval of new medicines will be discussed, with a focus on New Zealand and the United States. Second, evidence will be provided for the existence of three broad categories of medical therapies which lack private incentives for development under the current patent system: unpatentable therapies, unmonopolisable therapies and unprofitable therapies. Other problems with the reliance on patent monopolies will also be discussed. Third, the process of pharmaceutical reimbursement that is used to determine the price of medicines under the current system will be described, and a set of criteria will be proposed for an ideal incentive system, against which the current system is compared. Fourth, alternative incentive mechanisms for medical therapies comprising exclusivity-based ‘pull’ incentives, prize-based ‘pull’ incentives, and publicly funded ‘push’ incentives, will be analysed and ranked against these ideal criteria. This thesis concludes by proposing two legislative frameworks as part of an optimal incentive system alongside the current patent system, namely, extended regulatory exclusivity for incentivising unpatentable therapies and a prize-based mechanism combined with increased public funding for incentivising unmonopolisable and unprofitable therapies.

The study aims to explore the critical issues facing practitioners in post-merger integration (PMI) involving Western and Chinese pharmaceutical companies and to address the strategic management aspects that should be addressed to ensure merger success and synergy realization. By drawing on specific issues, actions/solutions, and outcomes in the post-merger integration of operational/ functional areas, new understanding on strategic management decisions and actions in pre-deal diligence and post-merger integrating process can be generated to explain merger success or failure. The objective of this research is, therefore, to provide more in-depth and substantive propositions to practitioners in Chinese pharmaceutical mergers and acquisitions to achieve successful post-merger integration. / The study has demonstrated the application of the integrative model, based on the mergers and acquisitions (M&A) integration framework of Larsson and Finkelstein (1999) and other theorists on the Chinese context, to various degrees of success. It has been shown that there are problems involved with applying Western integration models to Chinese companies, due to some Chinese management practices and the influence of the state during the state-owned-enterprise-reform process. As shown by the case studies of this research, the post-merger integration process and merger success in terms of synergy realization and shareholder value creation are closely related. Chinese company leadership with more M&A expertise from prior learning experience, as well as its good relationship (guanxi) with the state, is of great importance in securing good M&A deals and positive outcomes from integration with the former state-owned enterprises (SOEs). / It is hoped that the study has provided a framework for understanding why certain mergers and acquisitions fail in China and how that can be improved. In essence, this research has made a contribution to knowledge about the theory and practice of M&A in the China context as its findings were based on the input of ten top pharmaceutical executives and their senior staff. Due to the sharp increase in mergers and acquisitions in China, the study will help to shed light for future studies that will benefit academics and practitioners alike. Moreover, the study has also demonstrated good opportunities for conducting case study research through interviews in Chinese companies today. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005

The study aims to explore the critical issues facing practitioners in post-merger integration (PMI) involving Western and Chinese pharmaceutical companies and to address the strategic management aspects that should be addressed to ensure merger success and synergy realization. By drawing on specific issues, actions/solutions, and outcomes in the post-merger integration of operational/ functional areas, new understanding on strategic management decisions and actions in pre-deal diligence and post-merger integrating process can be generated to explain merger success or failure. The objective of this research is, therefore, to provide more in-depth and substantive propositions to practitioners in Chinese pharmaceutical mergers and acquisitions to achieve successful post-merger integration. / The study has demonstrated the application of the integrative model, based on the mergers and acquisitions (M&A) integration framework of Larsson and Finkelstein (1999) and other theorists on the Chinese context, to various degrees of success. It has been shown that there are problems involved with applying Western integration models to Chinese companies, due to some Chinese management practices and the influence of the state during the state-owned-enterprise-reform process. As shown by the case studies of this research, the post-merger integration process and merger success in terms of synergy realization and shareholder value creation are closely related. Chinese company leadership with more M&A expertise from prior learning experience, as well as its good relationship (guanxi) with the state, is of great importance in securing good M&A deals and positive outcomes from integration with the former state-owned enterprises (SOEs). / It is hoped that the study has provided a framework for understanding why certain mergers and acquisitions fail in China and how that can be improved. In essence, this research has made a contribution to knowledge about the theory and practice of M&A in the China context as its findings were based on the input of ten top pharmaceutical executives and their senior staff. Due to the sharp increase in mergers and acquisitions in China, the study will help to shed light for future studies that will benefit academics and practitioners alike. Moreover, the study has also demonstrated good opportunities for conducting case study research through interviews in Chinese companies today. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005

The study aims to explore the critical issues facing practitioners in post-merger integration (PMI) involving Western and Chinese pharmaceutical companies and to address the strategic management aspects that should be addressed to ensure merger success and synergy realization. By drawing on specific issues, actions/solutions, and outcomes in the post-merger integration of operational/ functional areas, new understanding on strategic management decisions and actions in pre-deal diligence and post-merger integrating process can be generated to explain merger success or failure. The objective of this research is, therefore, to provide more in-depth and substantive propositions to practitioners in Chinese pharmaceutical mergers and acquisitions to achieve successful post-merger integration. / The study has demonstrated the application of the integrative model, based on the mergers and acquisitions (M&A) integration framework of Larsson and Finkelstein (1999) and other theorists on the Chinese context, to various degrees of success. It has been shown that there are problems involved with applying Western integration models to Chinese companies, due to some Chinese management practices and the influence of the state during the state-owned-enterprise-reform process. As shown by the case studies of this research, the post-merger integration process and merger success in terms of synergy realization and shareholder value creation are closely related. Chinese company leadership with more M&A expertise from prior learning experience, as well as its good relationship (guanxi) with the state, is of great importance in securing good M&A deals and positive outcomes from integration with the former state-owned enterprises (SOEs). / It is hoped that the study has provided a framework for understanding why certain mergers and acquisitions fail in China and how that can be improved. In essence, this research has made a contribution to knowledge about the theory and practice of M&A in the China context as its findings were based on the input of ten top pharmaceutical executives and their senior staff. Due to the sharp increase in mergers and acquisitions in China, the study will help to shed light for future studies that will benefit academics and practitioners alike. Moreover, the study has also demonstrated good opportunities for conducting case study research through interviews in Chinese companies today. / Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2005

Thesis (Ph. D.)--University of Melbourne, Dept. of Political Science, 1997. / Typescript (photocopy). Includes bibliographical references (leaves 282-313).

Thesis (Ph.D.) -- Swinburne University of Technology, Graduate School of Entrepreneurship, 2000. / Submitted for the degree of Doctor of Philosophy, Australian Graduate School of Entrepreneurship, Swinburne University of Technology 2001. Typescript. Includes bibliographical references (p. 348-367).

Thesis (Ph.D.)--University of Melbourne, Dept. of Criminology, 2005. / Typescript. Includes bibliographical references (leaves: 221-238).

Thesis (Ph. D.)--Michigan State University. Dept. of Marketing, 2008. / Title from PDF t.p. (Mar. 26, 2009). Includes bibliographical references (p. 104-116). Also issued in print.

Thesis (Ph.D.)--Baylor University, 2008. / Includes bibliographical references (p. 112-117).

Thesis (Ph. D.)--UCLA, 2007. / Vita. Includes bibliographical references (leaves 103-118).