Early Life and Education
Phillip Frost was born into an observant Jewish family in the United States around 1936. At the age of 13, he began working at a local hardware shop. He earned a Bachelor of Arts in French literature from the University of Pennsylvania in 1957 and received an M.D. from the Albert Einstein College of Medicine in 1961. He also studied at the University of Paris from 1955 to 1956.
Rise to Success
Frost's career includes significant roles in the pharmaceutical sector. He served as chairman and CEO of Ivax Corporation from 1987 until its acquisition by Teva in January 2006. He was also chairman of Key Pharmaceuticals, from 1972 until its acquisition by Schering-Plough in 1986. Frost became vice chairman of Teva Pharmaceutical Industries in January 2006, and later chairman of the board in March 2010, stepping down in 2015. He is currently the CEO and Chairman of OPKO Health, Inc. since March 2007.
Key Business Strategies
Frost's business strategies have been characterized by strategic acquisitions, innovative product development, and a keen eye for market opportunities. He has a strong presence in the healthcare industry and a history of founding and leading several successful companies, including Key Pharmaceuticals and Ivax Corporation. His leadership at OPKO Health, and investments in various biotechnology companies, highlight his commitment to advancing medical innovation and technology.
Philanthropy
Frost is known for his philanthropic contributions, particularly in science, education, and the arts. He and his wife, Patricia, have supported the University of Miami, funding the Phillip and Patricia Frost School of Music, the Phillip and Patricia Frost Institute for Chemistry & Molecular Sciences, and the Phillip Frost Department of Dermatology. They also contributed to the Phillip and Patricia Frost Museum of Science. In 2011, they contributed $35 million to fund the construction of the new Miami Science Museum building.
