Phillip Frost

Phillip Frost is an American entrepreneur.

A long-time health care investor, inventor and founder, Phillip Frost now runs diagnostics-maker Opko Health.

In September 2018 the SEC accused him of participating in a “pump-and-dump” scheme that generated over $27 million from unlawful stock sales.

Frost denied the allegations soon after in a personal statement. He settled with the SEC in December without admitting or denying the allegations.

Frost and Michael Jaharis joined Key Pharmaceuticals in 1972, reformulated its asthma drug and sold the company in 1986 for $836 million.

Frost founded Ivax, a generic drugmaker, in 1987. He sold it to Teva Pharmaceuticals for $7.6 billion in 2005.