Early Life and Education
Phillip Frost was born in Philadelphia, Pennsylvania, to an observant Jewish family. At a young age, he took his first job working in a hardware shop. Frost pursued higher education, earning a B.A. in French literature from the University of Pennsylvania in 1957. He furthered his studies at the University of Paris from 1955 to 1956. Frost then obtained an M.D. degree from the Albert Einstein College of Medicine in 1961.
Rise to Success
Frost began his career in medicine and served as a Lieutenant Commander in the U.S. Public Health Service at the National Cancer Institute. Later, he joined the faculty at the University of Miami's School of Medicine and became the chair of the Department of Dermatology at Mount Sinai Medical Center in Miami. Frost's entrepreneurial journey commenced with Key Pharmaceuticals, which he acquired and developed into a successful drug company. In 1987, he founded IVAX Corporation, a pharmaceutical company. Frost's leadership and innovation have been instrumental in the pharmaceutical sector, particularly in generic drug development. He currently serves as CEO and Chairman of OPKO Health, Inc..
Key Business Strategies
A key strategy in Frost's career was his focus on bringing beneficial drugs to market and expanding healthcare options. Frost’s ability to identify promising pharmaceutical opportunities and his strategic investments have been central to his success.
Philanthropy
Phillip Frost and his wife, Patricia, are renowned philanthropists who have contributed significantly to various causes. Their donations include $33 million to the School of Music at the University of Miami, which was renamed the Phillip and Patricia Frost School of Music. They also contributed $35 million to the construction of the Phillip and Patricia Frost Museum of Science. Additionally, The Frosts have recently initiated a scholarship program for graduates of Florida state universities and Israeli universities to study at Oxford University in England. Frost has made significant donations to the arts, science, and education.