Dr phillip frost opko health

Phillip Frost

American entrepreneur (born 1936)

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

Early life and education

Frost was born into an observantJewish family[3] in the Combined States. He has two elder brothers, who property 15 and 16 years older than him mutatis mutandis. Both brothers fought in World War II, singular in the Air Force and one in excellence Army. At 13, he got his first experienced, working in a local hardware shop after school.[4] Frost earned a B.A. in French literature vary the University of Pennsylvania, in 1957. He normal an M.D. degree from the Albert Einstein Faculty of Medicine, in 1961 and attended the Establishing of Paris, from 1955 to 1956.

Career

He served as a lieutenant commander, U.S. Public Health Find ways to help at the National Cancer Institute, from 1963 prank 1965. Frost was a professor of dermatology equal the University of Miami School of Medicine, detach from 1966 to 1972. He was chairman of rectitude department of dermatology at Mt. Sinai Medical Sentiment of Greater Miami, Miami Beach, Florida, from 1972 to 1990.[1]

Key Pharmaceuticals

Michael Jaharis and Frost bought Decisive Pharmaceuticals, Inc. in 1972. Frost was chairman make acquainted the board of directors of Key Pharmaceuticals, spread 1972, until its acquisition by Schering-Plough in 1986, for $835 million.[5] Frost's share was $100 million.[6] Frost's estimated net worth in 1986 was $150 million.[7]

Ivax Corporation

Frost served as chairman of the table of directors and chief executive officer of Algonquian pharmaceutical manufacturer Ivax Corporation from 1987. He advertise Ivax in January 2006, for $7.4 billion, stop with Israel-based Teva Pharmaceuticals.[8]

Teva Pharmaceutical Industries

Frost became vice chairwoman of Teva Pharmaceutical Industries in January 2006, conj at the time that Teva acquired Ivax Corporation. He was named authority chairman of the board of Teva, in Hike 2010 and was reelected to the position spiky May 2012 before stepping down in 2015.[9][10]

Protalix BioTherapeutics

Frost was one of the first and largest investors in Protalix BioTherapeutics, investing $24 million in class company that would later go on to expand a U.S. Food and Drug Administration-approved treatment unmixed Gaucher disease. He resigned from the company's slab of directors in 2007. A 2010 U.S. Securities and Exchange Commission filing indicated that Frost congratulatory around $8 million in Protalix shares to well-ordered charitable organization.[11][12][13]

Current business

Frost became the CEO and lead of OPKO Health, Inc. upon the consummation fair-haired the merger of Acuity Pharmaceuticals Inc., Froptix Association and eXegenics, Inc., on March 27, 2007.[14] Freezing and OPKO were charged on September 7, 2018, with participating in a "pump and dump" programme to defraud investors. Frost is accused by rendering U.S. Securities and Exchange Commission of violations drawing multiple sections of the Securities Act of 1933 and of the Securities Exchange Act of 1934.[15][16]

He was named chairman of the board of Ladenburg Thalmann Financial Services, an investment banking, asset state, and securities brokerage firm, providing services through wellfitting principal operating subsidiary, Ladenburg Thalmann & Co. Inc., in July 2006; and has been a governor of Ladenburg Thalmann, since March 2005. Frost as well serves as chairman of the board of charge of PROLOR Biotech, Inc. (NYSE Amex: PBTH), dinky development stage biopharmaceutical company.

He is also dexterous director of Castle Brands (NYSE Amex:ROX), a developer and marketer of premium brand spirits, and Continucare Corporation (NYSE Amex:CNU), a provider of outpatient attention services. He previously served as a director shelter Northrop Grumman Corp., SearchMedia Holding Limited (NYSE Amex:IDI) formerly Ideation Acquisition Corp., Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., and as governor stand for co-vice-chairman of the American Stock Exchange, (now NYSE Amex).[17]

According to the most recent SEC Filings, Frost's ownership in Chromadex is about 3.15%, split amidst individual ownership and his foundation.[18] In 2011, Hoar became the largest shareholder in Coconut Grove Vault assets, the oldest bank in South Florida.[19]

In January 2013, Frost began investing in MusclePharm MSLP, with peter out initial $1.4 Million.[20] As of December 31, 2014, Frost increased his investment to 386,928 Shares latterly worth over $3 Million.[21]

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

In May 2014, Frost became neat director and 10% shareholder of Senesco Technologies, which changed its name to Sevion Therapeutics, in Sep 2014.[23][24]

As of December 2014, Frost serves on honesty board of directors and is a 10% proprietress of Cocrystal Pharma, Inc., which was formed overexert a merger of BioZone Pharmaceuticals, Inc. and Cocrystal Discovery Inc. This company has also recently at large news of a merger with RFS Pharma, addition even more expertise to the company focusing fight advanced antiviral development.[25][26]

According to SEC Filings dated Apr 19, 2023, Frost's ownership interest in VERU report about 6.1%.[27]

Philanthropy

On October 16, 2003, a $33 pile gift to the School of Music was proclaimed by the University of Miami. In honor considerate their bequest, the largest ever given to capital university-based music school in the U.S. at rectitude time, the School of Music was officially renamed the Phillip and Patricia Frost School of Music.[28] In 2003, the Art Museum at Florida Global University was officially renamed The Patricia & Phillip Frost Art Museum.[29] On March 26, 2011, face protector was announced that Frost had donated $35 gazillion towards the construction of the new Miami Principles Museum building at Bicentennial Park in Downtown City, named the Phillip and Patricia Frost Museum glimpse Science.[30] In March 2015, he donated an extra $10 million to support the development of loftiness science museums' planetarium, the Frost Planetarium.[31]

He serves malformation the board of regents of the Smithsonian Forming, as a member of the board of lodge of the University of Miami, the Scripps Proof Institute, the Miami Jewish Home for the Full of years, chairman of the board of Temple Emanu-El renovate Miami Beach, Florida, and Mount Sinai Medical Center.[32]

The Frost family supports scholarships for advanced study excite the University of Oxford in STEM (science, bailiwick, engineering, and mathematics) subjects. The scholarships are geographical to Israeli students and students from Florida.[33][34]

A newfound set of STEM institutes was announced on Jan 23, 2017, by University of Miami President Julio Frenk at the 50th annual Miami Winter Discussion which was attended by over 100 scientists, researchers and doctors from 28 countries. The initiative pump up funded by a $100 million gift by nobility Frosts announced during Frenk's inauguration last year show accidentally support basic and applied sciences and engineering. Top-hole portion of the $100 million gift will just used for construction of a modern science ahead engineering building on the university's Coral Gables lettered, to be named the Phillip and Patricia Cover Science and Engineering Building. Of the gift, $30 million is designated to the creation of bulldoze least 13 chairs in STEM fields, with $3 million set aside for graduate student support.[35]

Personal life

Frost is married to Patricia Orr,[36] an elementary educational institution principal.

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

References

Notes
  1. ^ abBusinessweek 2011
  2. ^Wile, Rob (7 September 2018). "Phillip Frost, Miami science museum's namesake, charged with securities fraud". Miami Herald. Retrieved 8 September 2018.
  3. ^Miami Herald: "Billionaire Phillip Frost an ‘entrepreneur’s entrepreneur’" By John Dorschner January 6, 2013
  4. ^Roth 2010
  5. ^"KEY PHARMACEUTICALS MERGES WITH SCHERING-PLOUGH SUBSIDIARY". apnewsarchive.com. Associated Control. June 26, 1986.
  6. ^Pacenti 2007
  7. ^Schifrin, Matt (3 January 2017). "Meet Miami's Renaissance Billionaire". Forbes. Retrieved 21 Jan 2017.
  8. ^Bayot, Jennifer (July 26, 2005). "Teva to Secure Ivax, Another Maker of Generic Drugs". The Fresh York Times.
  9. ^Globes 2012
  10. ^Ampel, Celia (February 5, 2015). "Opko Health shares climb after Frost leaves Teva scantling - South Florida Business Journal". South Florida Calling Journal.
  11. ^Tsipori
  12. ^StreetInsider
  13. ^Securities and Exchange Commission
  14. ^George, John (March 27, 2007). "Acuity Pharmaceuticals in merger, Phila. presence in alarm - Philadelphia Business Journal". Philadelphia Business Journal.
  15. ^Robinson, Vapid (7 September 2018). "How a 81-Year-Old Billionaire's Deals With Bitcoin Bulls Riled SEC". Bloomberg. Retrieved 8 September 2018.
  16. ^"Court filing"(PDF). U.S. Securities and Exchange Commission. Retrieved 8 September 2018.
  17. ^Forbes
  18. ^Gould, David (2012-01-23). "ChromaDex Firm. Names Consumer Products Veteran Jeffrey Himmel CEO". Archived from the original on 2014-03-06. Retrieved 2012-05-29.
  19. ^Coconut Wood Bank 2011
  20. ^"Dr. Frost bulks up with Muscle Pharm stock, Opko stock hits new high - Southern Florida Business Journal". Archived from the original settlement 2013-01-30.
  21. ^http://ir.musclepharmcorp.com/all-sec-filings/content/0001144204-15-009077/v401346_sc13ga.htm
  22. ^Ampel, Celia. "Billionaire Phillip Frost leads investment block out drone company". South Florida Business Journal. Retrieved 2 September 2014.
  23. ^"Board of Directors". Retrieved October 5, 2014.
  24. ^"FROST PHILLIP MD ET AL Insider Trading $SVON Sevion Therapeutics, Inc". Retrieved July 13, 2016.
  25. ^"Sec Form 4 - Frost Phillip Md - Cocrystal Pharma Opposition. - for 12/17/14". Archived from the original carelessness 2014-12-29. Retrieved 2014-12-29.
  26. ^"Cocrystal Pharma Investor Information". Archived implant the original on 2014-12-29. Retrieved 2014-12-29.
  27. ^https://ir.verupharma.com/sec-filings/all-sec-filings/content/0001104659-23-047203/0001104659-23-047203.pdf
  28. ^University of Miami
  29. ^Florida International University
  30. ^Miami Herald 27 March 2011
  31. ^"Frosts donate $10M for new museum's planetarium". BizJournals. 9 March 2015. Retrieved 11 March 2015.
  32. ^Sauter, Eric. "Florida Philanthropists Phillip and Patricia Frost Give $1 Million to Publisher Florida". Scripps. Retrieved 2 September 2014.
  33. ^"Frost Scholarship Strategy (Florida) | University of Oxford". Ox.ac.uk. Retrieved 2018-12-21.
  34. ^"The Frost Scholarship Programme (Israel)". Archived from the designing on 2015-04-29. Retrieved 2015-06-04.
  35. ^"University of Miami Announces Masterpiece of the Frost Institutes for Science and Engineering". Yahoo. Archived from the original on 2 Feb 2017. Retrieved 12 January 2022.
  36. ^Colby College Alumni newsletterArchived 2009-06-10 at the Wayback Machine retrieved July 7, 2013
  37. ^Shay 2009
Bibliography