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Phillip Frost

Phillip Frost

P. Frost
8.32% | + $180.26M
$2.35 B ₹ 21,357 Cr
Real Time Net Worth #1766 Ranking as of 21 Feb 2026 By Forbes

More on Phillip Frost

Gender

Male

Age

89Y

Country

United States

Born On

October, 1936

Deceased

No

Relationship Status

Married

Children

0

Education

University Of Pennsylvania – BA In French Literature

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Pharmaceuticals)

Primary Organization

OPKO Health

Titles

CEO & Chairman

Sources of Wealth

Pharmaceuticals, Investments

Industry

Healthcare, Pharmaceuticals, Investments

About Phillip Frost


D r. Phillip Frost is an American physician, inventor, and pharmaceutical industry executive who has built a remarkable career by developing and selling several successful drug companies. After earning a degree in French literature from the University of Pennsylvania, he went on to study medicine at the Albert Einstein College of Medicine. He served as a lieutenant commander in the U.S. Public Health Service and later became a professor of dermatology. His entrepreneurial journey began when he invented a disposable tool for taking biopsies, which laid the groundwork for his first company.

In 1972, Frost took over Key Pharmaceuticals, a small drug company, and transformed it into a major player by reformulating existing drugs for improved delivery, most notably with an asthma medication. He sold Key to Schering-Plough in 1986 for a substantial profit. He then co-founded Ivax Corporation, a generic drug maker, which he built into a powerhouse and sold to Teva Pharmaceuticals in 2006 for $7.6 billion, becoming Teva's chairman and largest shareholder. He is currently the CEO and Chairman of OPKO Health, a biopharmaceutical and diagnostics company. Beyond his business success, Frost is a major philanthropist, particularly in the areas of education and the arts in Miami, where the Phillip and Patricia Frost Museum of Science is named in his and his wife's honor.

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Quick Reads


  • Physician, inventor, and serial pharmaceutical entrepreneur.
  • Successfully built and sold two major drug companies: Key Pharmaceuticals and Ivax Corp.
  • Currently serves as the CEO and Chairman of OPKO Health.
  • Invented a disposable biopsy punch early in his career.
  • A major philanthropist in Miami, with a science museum named after him and his wife.

Early Life and Background


Dr. Phillip Frost, M.D., is an American physician and businessman, the self-made billionaire Chairman and CEO of Opko Health (NASDAQ: OPK), a major pharmaceutical and diagnostics company. His career is rooted in elite medicine, serial entrepreneurial disruption, and biomedical research.

Frost holds an M.D. from the Albert Einstein College of Medicine (1959) and served in the U.S. Public Health Service. His philosophical approach centers on scientific innovation, long-term R&D, and vertical integration (controlling drug development, manufacturing, and diagnostics). His structural wealth is tied to his immense success in founding and monetizing multiple pharmaceutical ventures.

  • Opko Health (Chairman & CEO): The core publicly traded asset, a major provider of pharmaceuticals, diagnostics, and medical devices (with a diverse product pipeline).
  • Ivax Corporation (Former Founder & CEO): The foundational source of his wealth, a major generic and specialty pharmaceutical company (sold to Teva Pharmaceutical Industries for $7.4 billion in 2005).
  • Medical Pioneer: He is a renowned dermatologist and a pioneer in generic drug development.
  • Controversy/Crisis: His career is linked to SEC charges (related to pump-and-dump stock schemes), leading to settlements and legal scrutiny.

Career Journey of Phillip Frost


Dr. Phillip Frost's strategic genius was his commitment to generic drugs and specialty pharmaceuticals. He founded Ivax Corporation in 1987, building it into a major global force through aggressive acquisition and R&D. The pinnacle of his financial career was the $7.4 billion sale of Ivax to Teva Pharmaceutical Industries in 2005.

He later founded Opko Health (2007), focusing on diagnostics, pharmaceuticals, and biotechnology. His structural contribution is immense: pioneering the modern generic drug model and advancing specialized medical diagnostics. His wealth is secured by the colossal liquid gains from the Ivax sale and his long-term equity stake in Opko Health.

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Phillip Frost's Timeline


1959:

Earns an M.D. from the Albert Einstein College of Medicine (Academic Achievement).

1987:

Founds Ivax Corporation (Founding 1).

2005 (August):

Sells Ivax to Teva Pharmaceutical Industries for $7.4 billion (Major Exit).

2007:

Founds Opko Health (Founding 2).

2018 (September):

Charged by the SEC with pump-and-dump stock scheme (Legal Crisis).

Ongoing:

Continues as Founder, Chairman, and CEO, guiding the global healthcare giant (Executive Oversight).

Major Business Ventures and Investments


Phillip Frost's wealth is concentrated in the liquid capital generated from the $7.4 billion sale of Ivax to Teva and his founding equity in the publicly traded medical technology giant, Opko Health (NASDAQ: OPK).

  • Opko Health (Chairman & CEO): The core publicly traded asset, a major provider of pharmaceuticals, diagnostics, and medical devices (with a diverse product pipeline).
  • Ivax Corporation (Former Founder & CEO): The foundational source of his wealth, a major generic and specialty pharmaceutical company (sold to Teva Pharmaceutical Industries for $7.4 billion in 2005).
  • Academic Background: He holds an M.D. from the Albert Einstein College of Medicine.
  • Controversy/Crisis: His career is linked to SEC charges (related to pump-and-dump stock schemes), leading to settlements and legal scrutiny.

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Philanthropy and Social Impact


Dr. Phillip Frost's social impact is structural, stemming from Ivax's and Opko Health's roles in providing essential medicines and diagnostics for global healthcare systems. His Frost Museum of Science and his donations to University of Miami (funding the Frost School of Music) provide major structural contributions to science and culture in South Florida. His personal philanthropy supports various community and educational initiatives.

His structural contribution is tied to the successful industrialization and scale of the generic drug and medical diagnostics sectors.

Fashion, Style, and Lifestyle


Dr. Phillip Frost maintains the professional, composed style of a corporate executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects serious authority and stability, typical of a leader in the global healthcare sector.

Residing in Miami, Florida, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to biotechnology innovation, strategic management, and philanthropy.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He sold his pharmaceutical company, Ivax, for $7.4 billion to Teva in 2005.
  • He is the Chairman and CEO of Opko Health (pharmaceuticals and diagnostics).
  • He holds an M.D. degree and is a renowned dermatologist.
  • He was charged by the SEC with pump-and-dump stock fraud (settling in 2018).
  • He funded the Phillip and Patricia Frost Museum of Science in Miami.
  • He holds an estimated net worth of $2.5 billion (2024 estimate).
  • His philosophy emphasizes scientific innovation and vertical integration.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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