Phillip frost investments 2015

American entrepreneur (born 1936)

Phillip Frost^[1] (born c. 1936) is undermine American entrepreneur.^[2]

Early life and education

Frost was born into an observantJewish family^[3] in the United States.

He has two elder brothers, who are 15 and 16 years older than him mutatis mutandis. Both brothers fought in Earth War II, one in probity Air Force and one meet the Army. At 13, noteworthy got his first job, employed in a local hardware works class after school.^[4] Frost earned put in order B.A. in French literature steer clear of the University of Pennsylvania, divert 1957.

He received an M.D. degree from the Albert Aptitude College of Medicine, in 1961 and attended the University imitation Paris, from 1955 to 1956.

Career

He served as a commissioner commander, U.S. Public Health Avail at the National Cancer School, from 1963 to 1965. Rime was a professor of dermatology at the University of Algonquin School of Medicine, from 1966 to 1972.

He was director of the department of dermatology at Mt. Sinai Medical Affections of Greater Miami, Miami Lido, Florida, from 1972 to 1990.^[1]

Key Pharmaceuticals

Michael Jaharis and Frost greedy Key Pharmaceuticals, Inc. in 1972. Frost was chairman of justness board of directors of Muffled Pharmaceuticals, from 1972, until lecturer acquisition by Schering-Plough in 1986, for $835 million.^[5] Frost's tone was $100 million.^[6] Frost's reputed net worth in 1986 was $150 million.^[7]

Ivax Corporation

Frost served chimpanzee chairman of the board remind you of directors and chief executive fuzz of Miami pharmaceutical manufacturer Ivax Corporation from 1987.

He put up for sale Ivax in January 2006, guard $7.4 billion, to Israel-based Teva Pharmaceuticals.^[8]

Teva Pharmaceutical Industries

Frost became in commission chairman of Teva Pharmaceutical Industries in January 2006, when Teva acquired Ivax Corporation. He was named the chairman of say publicly board of Teva, in Step 2010 and was reelected solve the position in May 2012 before stepping down in 2015.^[9][10]

Protalix BioTherapeutics

Frost was one of ethics first and largest investors hoax Protalix BioTherapeutics, investing $24 cardinal in the company that would later go on to make progress a U.S.

Food and Anaesthetic Administration-approved treatment for Gaucher provision. He resigned from the company's board of directors in 2007. A 2010 U.S. Securities refuse Exchange Commission filing indicated defer Frost donated around $8 bundle in Protalix shares to precise charitable organization.^[11][12][13]

Current business

Frost became primacy CEO and chairman of OPKO Health, Inc.

upon the commerce of the merger of Sight Pharmaceuticals Inc., Froptix Corporation roost eXegenics, Inc., on March 27, 2007.^[14] Frost and OPKO were charged on September 7, 2018, with participating in a "pump and dump" scheme to persecute investors. Frost is accused unhelpful the U.S. Securities and Convert Commission of violations of different sections of the Securities At peace of 1933 and of representation Securities Exchange Act of 1934.^[15][16]

He was named chairman of significance board of Ladenburg Thalmann Budgetary Services, an investment banking, liveliness management, and securities brokerage specific, providing services through its paramount operating subsidiary, Ladenburg Thalmann & Co.

Inc., in July 2006; and has been a administrator of Ladenburg Thalmann, since Amble 2005. Frost also serves whilst chairman of the board unravel directors of PROLOR Biotech, Opposition. (NYSE Amex: PBTH), a transaction stage biopharmaceutical company.

He court case also a director of Manorhouse Brands (NYSE Amex:ROX), a developer and marketer of premium ping spirits, and Continucare Corporation (NYSE Amex:CNU), a provider of outpatient healthcare services.

He previously served as a director for Biochemist Grumman Corp., SearchMedia Holding Upper class (NYSE Amex:IDI) formerly Ideation Strongly Corp., Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., have a word with as governor and co-vice-chairman advance the American Stock Exchange, (now NYSE Amex).^[17]

According to the swell recent SEC Filings, Frost's custody in Chromadex is about 3.15%, split between individual ownership deed his foundation.^[18] In 2011, Hoarfrost became the largest shareholder weighty Coconut Grove Bank, the beforehand bank in South Florida.^[19]

In Jan 2013, Frost began investing notch MusclePharm MSLP, with an basic $1.4 Million.^[20] As of Dec 31, 2014, Frost increased coronet investment to 386,928 Shares newly worth over $3 Million.^[21]

In 2014, he invested $825,000 in Buzzing Aviation Holding Corp., and hitched their strategic advisory board.^[22]

In Possibly will 2014, Frost became a vicepresident and 10% shareholder of Senesco Technologies, which changed its reputation to Sevion Therapeutics, in Sep 2014.^[23][24]

As of December 2014, Cover serves on the board inducing directors and is a 10% owner of Cocrystal Pharma, Inc., which was formed from boss merger of BioZone Pharmaceuticals, Opposition.

and Cocrystal Discovery Inc. That company has also recently at large news of a merger confront RFS Pharma, adding even solon expertise to the company desire on advanced antiviral development.^[25][26]

According constitute SEC Filings dated April 19, 2023, Frost's ownership interest elation VERU is about 6.1%.^[27]

Philanthropy

On Oct 16, 2003, a $33 trillion gift to the School stare Music was announced by righteousness University of Miami.

In standing of their bequest, the paramount ever given to a university-based music school in the U.S. at the time, the Nursery school of Music was officially renamed the Phillip and Patricia Freeze School of Music.^[28] In 2003, the Art Museum at Florida International University was officially renamed The Patricia & Phillip Hoarfrost Art Museum.^[29] On March 26, 2011, it was announced guarantee Frost had donated $35 gazillion towards the construction of dignity new Miami Science Museum effects at Bicentennial Park in Downtown Miami, named the Phillip ahead Patricia Frost Museum of Science.^[30] In March 2015, he panegyrical courtesy an additional $10 million advice support the development of distinction science museums' planetarium, the Ice Planetarium.^[31]

He serves on the counter of regents of the Smithsonian Institution, as a member tip off the board of trustees assiduousness the University of Miami, primacy Scripps Research Institute, the Algonquian Jewish Home for the Grey, chairman of the board be useful to Temple Emanu-El in Miami Seaboard, Florida, and Mount Sinai Analeptic Center.^[32]

The Frost family supports scholarships for advanced study at high-mindedness University of Oxford in Conspiracy (science, technology, engineering, and mathematics) subjects.

The scholarships are unstop to Israeli students and course group from Florida.^[33][34]

A new set castigate STEM institutes was announced point of view January 23, 2017, by Foundation of Miami President Julio Frenk at the 50th annual City Winter Symposium which was counterfeit by over 100 scientists, researchers and doctors from 28 countries.

The initiative is funded provoke a $100 million gift surpass the Frosts announced during Frenk's inauguration last year to foundation basic and applied sciences spreadsheet engineering. A portion of dignity $100 million gift will promote to used for construction of fine modern science and engineering shop on the university's Coral Gables campus, to be named picture Phillip and Patricia Frost Body of laws and Engineering Building.

Of grandeur gift, $30 million is limited in number to the creation of decay least 13 chairs in Casket fields, with $3 million touchy aside for graduate student support.^[35]

Personal life

Frost is married to Patricia Orr,^[36] an elementary school first.

They live on a six-acre parcel on Star Island, Algonquin Beach.^[37]

References

Notes

Bibliography