Phillip Frost
Overview
- Source of Wealth
- Pharmaceuticals
- Industry
- Healthcare
- Residence
- Miami Beach, Florida
- Education
- University of Pennsylvania (Bachelor of Arts/Science)Yeshiva U Albert Einstein College of Medicine (Medical Doctor)
- Marital Status
- Married
Biography
A long-time health care investor, inventor and founder, Phillip Frost now runs diagnostics-maker Opko Health.
Frost joined Key Pharmaceuticals in 1972, reformulated its asthma drug and sold the company in 1986 for $836 million.
Frost founded Ivax, a generic drugmaker, in 1987. He sold it to Teva Pharmaceuticals for $7.6 billion in 2005.
In 2018, the SEC accused him of participating in a "pump-and-dump" scheme that generated over $27 million from unlawful stock sales.
Frost denied the allegations in a personal statement. He settled with the SEC in 2018 without admitting or denying the allegations.
About
Born during the Great Depression, Frost is the third son of a shoe-store owner from South Philadelphia.
Frost and his wife, who have no children, have signed the Giving Pledge and have donated more than $130 million to the University of Miami.