Miami pharmaceutical godfather Phillip Frost pursuing new successes in dealmaking and ophthalmologic tools
A perusal of the offerings of Dr. Phillip Frost's overflowing office bookcase offers much insight into the man himself. One might stumble across a medical dictionary tucked between a book on investing and a how-to guide suggesting tips on making inter-cultural business deals.
He's a scholar of French literature. An accomplished dermatologist. He chairs both an investment firm and a healthcare company that develops ophthalmologic treatment tools— simultaneously. And he also finds time to garden in between acting as co-vice chairman of the American Stock Exchange and playing an active role in the Miami arts scene.
Dr. Frost, often credited as the godfather of the local pharmaceutical industry, founded IVAX, a branded and generic drug developer and manufacturer, in Miami in the '80s. Since its merger with Teva Pharmaceutical Industries last year, Dr. Frost has moved on to other endeavors: he's transplanted the corporate headquarters of New York-based Ladenburg Thalmann Financial Services to Miami and started up a company that's developing some of the most innovative ophthalmologic technologies around, he says.
Named one of Forbes' "World's Richest People," Dr. Frost and wife Patricia fulfill part of his personal philosophy — "to share" — in contributing to local arts institutions such as the University of Miami's music school and Florida International University's art museum, both named after the couple.
Dr. Frost was interviewed in his Biscayne Boulevard office — where most of his many companies are or have been based — by Miami Today staff writer Risa Polansky.
This is an excerpt from the weekly profile article published in Miami Today. To read the entire article in full, order this issue or subscribe to the print edition of Miami Today.