Phillip Frost Biography: Age, Wife, Religion, Inventions, Net Worth, Ethnicity, Awards, Children
Phillip Frost is an American physician, entrepreneur, inventor, investor and philanthropist best known for building major pharmaceutical companies and serving as the chairman and chief executive officer of OPKO Health.
He previously led IVAX Corporation, transforming it into a major generic-drug company before its acquisition by Teva Pharmaceuticals, and earlier guided Key Pharmaceuticals to a successful acquisition by Schering-Plough.
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| Name: | Phillip Frost |
| Born: | 11 November 1936 (age 89 years old) |
| Place of Birth: | Philadelphia, Pennsylvania, United States |
| Nationality: | American |
| Ethnicity: | Ashkenazi Jewish American |
| Religion: | Judaism |
| Parents: | Mr and Mrs. Frost |
| Siblings: | 2 |
| Spouse: | Patricia Orr (1960s) |
| Relationship: | Married |
| Occupation: | Physician, Entrepreneur, Businessman, Inventor, Investor, Philanthropist |
| Net Worth: | $2.4 billion |
Early Life and Education
Phillip Frost was born on 11 November 1936 in Philadelphia, Pennsylvania, as the third son of Mr and Mrs. Frost.
He grew up in an observant Jewish family with two older brothers, both of whom served in the United States military during World War II.
After graduating from Philadelphia’s Central High School, Phillip attended the University of Pennsylvania, where he earned a bachelor’s degree in French literature in 1957.
He also spent part of his undergraduate years studying at the University of Paris before receiving his M.D. from the Albert Einstein College of Medicine in 1961.
Following his medical education, he served as a lieutenant commander in the U.S. Public Health Service at the National Cancer Institute and later joined the University of Miami School of Medicine, eventually becoming chairman of dermatology at Mount Sinai Medical Center of Greater Miami.
His heritage is Ashkenazi Jewish American, and he follows Judaism.
Career
Phillip Frost began his medical career in dermatology and academic medicine before entering the pharmaceutical industry.
After serving at the National Cancer Institute, he joined the University of Miami School of Medicine in 1966 and later chaired the dermatology department at Mount Sinai Medical Center.
In 1971–1972, he and Michael Jaharis acquired Key Pharmaceuticals, where Frost helped transform the struggling company through pharmaceutical innovation and improved drug-delivery systems.
Key was eventually acquired by Schering-Plough for approximately $835 million in 1986, marking Frost’s first major pharmaceutical success.
Frost subsequently founded IVAX Corporation in 1987 and served as its chairman and chief executive officer until its acquisition by Teva Pharmaceuticals in 2006 for approximately $7.4 billion.
He became Teva’s vice chairman and later chairman before leaving the board in 2015.
In March 2007, he became chairman and CEO of OPKO Health, where he continued developing pharmaceutical, diagnostic and biotechnology ventures.
His inventive work includes patents involving a disposable punch-biopsy device and therapeutic approaches, earning him induction into the Florida Inventors Hall of Fame in 2017.
Frost has also served on the boards of major academic, scientific and civic institutions and has made substantial philanthropic contributions with his wife, Patricia.
Personal Life
Phillip Frost, 89 years old, has been married to educator and philanthropist Patricia Orr Frost for more than five decades.
Patricia served as an elementary-school principal and has been deeply involved in educational, cultural and philanthropic activities alongside her husband.
The couple have no children and have devoted substantial attention to philanthropy, supporting institutions including the University of Miami, Florida International University and major Miami cultural and scientific organizations.
Net Worth
Phillip Frost has an estimated net worth of $2.4 billion. His fortune was built principally through pharmaceutical entrepreneurship, particularly his leadership and ownership interests in Key Pharmaceuticals and IVAX, followed by investments through OPKO Health and a broad portfolio of biotechnology, healthcare and other businesses.
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