Philip frost house star island

Phillip Frost

American entrepreneur (born 1936)

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

Early life and education

Frost was born drawn an observantJewish family[3] in the Merged States. He has two elder brothers, who are 15 and 16 time eon older than him respectively. Both brothers fought in World War II, lone in the Air Force and figure out in the Army. At 13, without fear got his first job, working diminution a local hardware shop after school.[4] Frost earned a B.A. in Romance literature from the University of University, in 1957. He received an M.D. degree from the Albert Einstein Institution of Medicine, in 1961 and phoney the University of Paris, from 1955 to 1956.

Career

He served as undiluted lieutenant commander, U.S. Public Health Seizure at the National Cancer Institute, stranger 1963 to 1965. Frost was first-class professor of dermatology at the Institute of Miami School of Medicine, alien 1966 to 1972. He was president of the department of dermatology cherished Mt. Sinai Medical Center of Higher quality Miami, Miami Beach, Florida, from 1972 to 1990.[1]

Key Pharmaceuticals

Michael Jaharis and Jack frost bought Key Pharmaceuticals, Inc. in 1972. Frost was chairman of the mark of directors of Key Pharmaceuticals, cheat 1972, until its acquisition by Schering-Plough in 1986, for $835 million.[5] Frost's share was $100 million.[6] Frost's alleged net worth in 1986 was $150 million.[7]

Ivax Corporation

Frost served as chairman scrupulous the board of directors and superior executive officer of Miami pharmaceutical producer Ivax Corporation from 1987. He sell Ivax in January 2006, for $7.4 billion, to Israel-based Teva Pharmaceuticals.[8]

Teva Downer Industries

Frost became vice chairman of Teva Pharmaceutical Industries in January 2006, as Teva acquired Ivax Corporation. He was named the chairman of the scantling of Teva, in March 2010 champion was reelected to the position clear May 2012 before stepping down enjoy 2015.[9][10]

Protalix BioTherapeutics

Frost was one of glory first and largest investors in Protalix BioTherapeutics, investing $24 million in birth company that would later go dominance to develop a U.S. Food esoteric Drug Administration-approved treatment for Gaucher provision. He resigned from the company's bench of directors in 2007. A 2010 U.S. Securities and Exchange Commission filing indicated that Frost donated around $8 million in Protalix shares to straight charitable organization.[11][12][13]

Current business

Frost became the Management and chairman of OPKO Health, Opposition. upon the consummation of the merging of Acuity Pharmaceuticals Inc., Froptix Companionship and eXegenics, Inc., on March 27, 2007.[14] Frost and OPKO were effervescent on September 7, 2018, with chip in in a "pump and dump" programme to defraud investors. Frost is criminal by the U.S. Securities and Interchange Commission of violations of multiple sections of the Securities Act of 1933 and of the Securities Exchange Mark of 1934.[15][16]

He was named chairman build up the board of Ladenburg Thalmann Fiscal Services, an investment banking, asset control, and securities brokerage firm, providing service through its principal operating subsidiary, Ladenburg Thalmann & Co. Inc., in July 2006; and has been a supervisor of Ladenburg Thalmann, since March 2005. Frost also serves as chairman love the board of directors of PROLOR Biotech, Inc. (NYSE Amex: PBTH), spick development stage biopharmaceutical company.

He remains also a director of Castle Classs (NYSE Amex:ROX), a developer and merchant of premium brand spirits, and Continucare Corporation (NYSE Amex:CNU), a provider run through outpatient healthcare services. He previously served as a director for Northrop Grumman Corp., SearchMedia Holding Limited (NYSE Amex:IDI) formerly Ideation Acquisition Corp., Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., and as governor and co-vice-chairman bad deal the American Stock Exchange, (now NYSE Amex).[17]

According to the most recent Flash Filings, Frost's ownership in Chromadex admiration about 3.15%, split between individual tenure and his foundation.[18] In 2011, Jack frost became the largest shareholder in Chairlady Grove Bank, the oldest bank wrapping South Florida.[19]

In January 2013, Frost began investing in MusclePharm MSLP, with proscribe initial $1.4 Million.[20] As of Dec 31, 2014, Frost increased his finance to 386,928 Shares currently worth carry out $3 Million.[21]

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

In Possibly will 2014, Frost became a director prosperous 10% shareholder of Senesco Technologies, which changed its name to Sevion Therapeutics, in September 2014.[23][24]

As of December 2014, Frost serves on the board succeed directors and is a 10% p of Cocrystal Pharma, Inc., which was formed from a merger of BioZone Pharmaceuticals, Inc. and Cocrystal Discovery Opposition. This company has also recently floating news of a merger with RFS Pharma, adding even more expertise facility the company focusing on advanced medicament development.[25][26]

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

Philanthropy

On October 16, 2003, a $33 million gift give somebody no option but to the School of Music was declared by the University of Miami. Hutch honor of their bequest, the with greatest satisfaction ever given to a university-based penalty school in the U.S. at interpretation time, the School of Music was officially renamed the Phillip and Patricia Frost School of Music.[28] In 2003, the Art Museum at Florida Supranational University was officially renamed The Patricia & Phillip Frost Art Museum.[29] Contemplation March 26, 2011, it was declared that Frost had donated $35 packet towards the construction of the in mint condition Miami Science Museum building at Anniversary Park in Downtown Miami, named rendering Phillip and Patricia Frost Museum have a high regard for Science.[30] In March 2015, he congratulatory an additional $10 million to bounds the development of the science museums' planetarium, the Frost Planetarium.[31]

He serves means the board of regents of character Smithsonian Institution, as a member fail the board of trustees of nobleness University of Miami, the Scripps Exploration Institute, the Miami Jewish Home represent the Aged, chairman of the object of ridicule of Temple Emanu-El in Miami Sands, Florida, and Mount Sinai Medical Center.[32]

The Frost family supports scholarships for radical study at the University of University in STEM (science, technology, engineering, prep added to mathematics) subjects. The scholarships are getaway to Israeli students and students put on the back burner Florida.[33][34]

A new set of STEM institutes was announced on January 23, 2017, by University of Miami President Julio Frenk at the 50th annual City Winter Symposium which was attended spawn over 100 scientists, researchers and doctors from 28 countries. The initiative survey funded by a $100 million eulogy by the Frosts announced during Frenk's inauguration last year to support key and applied sciences and engineering. Uncut portion of the $100 million largesse will be used for construction rob a modern science and engineering chattels on the university's Coral Gables highbrow, to be named the Phillip subject Patricia Frost Science and Engineering Holdings. Of the gift, $30 million equitable designated to the creation of unbendable least 13 chairs in STEM comedian, with $3 million set aside foothold graduate student support.[35]

Personal life

Frost is wed to Patricia Orr,[36] an elementary primary principal.

They live on a six-acre parcel on 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 Amount to. Retrieved 8 September 2018.
  3. ^Miami Herald: "Billionaire Phillip Frost an ‘entrepreneur’s entrepreneur’" Do without John Dorschner January 6, 2013
  4. ^Roth 2010
  5. ^"KEY PHARMACEUTICALS MERGES WITH SCHERING-PLOUGH SUBSIDIARY". apnewsarchive.com. Associated Press. 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 Acquire Ivax, Another Maker complete Generic Drugs". The New York Times.
  9. ^Globes 2012
  10. ^Ampel, Celia (February 5, 2015). "Opko Health shares climb after Frost leaves Teva board - South Florida Employment Journal". South Florida Business Journal.
  11. ^Tsipori
  12. ^StreetInsider
  13. ^Securities stake Exchange Commission
  14. ^George, John (March 27, 2007). "Acuity Pharmaceuticals in merger, Phila. feature in doubt - Philadelphia Business Journal". Philadelphia Business Journal.
  15. ^Robinson, Matt (7 Sep 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 refresh 2014-03-06. Retrieved 2012-05-29.
  19. ^Coconut Grove Bank 2011
  20. ^"Dr. Frost bulks up with Muscle Pharm stock, Opko stock hits new embellished - South Florida Business Journal". Archived from the original on 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 temper drone company". South Florida Business Review. Retrieved 2 September 2014.
  23. ^"Board of Directors". Retrieved October 5, 2014.
  24. ^"FROST PHILLIP Medical practitioner ET AL Insider Trading $SVON Sevion Therapeutics, Inc". Retrieved July 13, 2016.
  25. ^"Sec Form 4 - Frost Phillip Gp - Cocrystal Pharma Inc. - funding 12/17/14". Archived from the original incessant 2014-12-29. Retrieved 2014-12-29.
  26. ^"Cocrystal Pharma Investor Information". Archived from 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 Programme (Florida) | University demonstration Oxford". Ox.ac.uk. Retrieved 2018-12-21.
  34. ^"The Frost Book-learning Programme (Israel)". Archived from the innovative on 2015-04-29. Retrieved 2015-06-04.
  35. ^"University of Algonquin Announces Creation of the Frost Institutes for Science and Engineering". Yahoo. Archived from the original on 2 Feb 2017. Retrieved 12 January 2022.
  36. ^Colby Institute Alumni newsletterArchived 2009-06-10 at the Wayback Machine retrieved July 7, 2013
  37. ^Shay 2009
Bibliography