Early Life and Education
Phillip Frost was born in the United States in 1936. He earned a B.A. in French Literature from the University of Pennsylvania in 1957 and 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 began in the public health sector and academia. He served as a lieutenant commander in the U.S. Public Health Service at the National Cancer Institute from 1963 to 1965. He later became a professor of dermatology at the University of Miami School of Medicine from 1966 to 1972 and served as the chairman of the dermatology department at Mount Sinai Medical Center in Miami Beach from 1972 to 1990. His entrepreneurial journey began in 1972 when he co-founded Key Pharmaceuticals, which was later sold to Schering-Plough in 1986 for $835 million. Frost's share was $100 million, which he used to found Ivax Corporation in 1987. Ivax was later sold to Teva Pharmaceuticals in 2006 for $7.6 billion.
Key Business Strategies
Frost is recognized for his strategic investments and his ability to identify and capitalize on opportunities within the healthcare industry. He has a history of acquiring, restructuring, and selling companies, significantly increasing his wealth over time. His current focus is on OPKO Health, a diversified healthcare company with interests in diagnostics, therapeutics, and strategic investments.
Philanthropy
Phillip Frost and his wife, Patricia, are known for their extensive philanthropic work. They have donated generously to various causes, including STEM programs, the University of Miami, the Frost Science Museum, and the Frost School of Music. Their contributions reflect a commitment to education, science, and the arts.
