240. Phillip Frost

Forbes - - PROMOTION -

$3.2 billion  self-made score: * source: Phar­ma­ceu­ti­cals age: 81 res­i­dence: Mi­ami beach, fla. m.d., al­bert ein­stein col­lege of medicine ’61 Frost’s Opko Health, a drug and di­ag­nos­tics com­pany that is re­search­ing treat­ments for Parkin­son’s dis­ease, asthma and can­cer, has seen its shares plum­met 34% in the last year amid slower than ex­pected sales of an ex­ist­ing drug. A pi­o­neer in the in­dus­try, Frost re­for­mu­lated Key Phar­ma­ceu­ti­cals’ asthma medicine and sold the com­pany to Scher­ing-plough in 1986 in an $836 mil­lion deal. One year later, he founded generic drug­maker Ivax, which was bought by Teva Phar­ma­ceu­ti­cals for $7.6 billion in 2005.

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