Michael Jaharis’s profile picture

Michael Jaharis

Michael Jaharis’s profile picture
Net worth 2018: $2.2 Billion
Industry: Health care
Country: United States
BirthDay: 16 July 1928
Sigh: Leo
Died On: 17/02/2016
Children: 2
Education: Bachelor of Arts / Science, Carroll College Wisconsin; Doctor of Jurisprudence, DePaul University
BIOGRAPHY

Michael Jaharis was bornon 16 July 1928 in United States. Pharmaceutical legend Michael Jaharis died in February 2016. He and Phillip Frost first teamed up to buy Key Pharmaceuticals in 1972. Under Jaharis, who was Key's CEO until 1986, the company thrived and eventually merged with Schering-Plough in a $836 million deal. Jaharis then founded Kos Pharmaceuticals in 1988 and sold it to Abbott Labs in 2006 for $4.2 billion. In 2013 Pearl Therapeutics, in which his venture capital firm Vatera Healthcare Partners was the largest investor, was acquired by AstraZeneca for $560 million. Jaharis was a big giver to Greek causes. In 2013, he and his wife Mary made a $2 million gift to endow Fordham University's first Archbishop Demetrios Chair in Orthodox Theology and Culture. Also in 2013 the Jaharis Family Foundation pledged $2 million for hunger and poverty relief in Greece. He is Vice Chairman of the Archdiocesan Council of the Greek Orthodox Archdiocese of America.

NET WORTH STATISTIC
2010

$1.9 Billion

2011

$1.9 Billion

2012

$1.9 Billion

2013

$2 Billion

2014

$2.2 Billion

2015

$2.2 Billion

2018

$2.2 Billion

TIMELINE
2016

Jaharis died February 17, 2016, in his home in New York City with his family by his side

2015

As of March 2015, he was the 847th richest person in the world, and the 297th richest in the United States, with an estimated wealth of US $2

2013

In 2013, the Foundation pledged $2 million to help relieve hunger and poverty in Greece during the country's fiscal crisis

2007

In 2007, Jaharis co-founded Vatera Healthcare Partners LLC, a New York City-based investment group focused on taking active positions in healthcare companies that develop products for medical needs in a range of therapeutic areas including chronic obstructive pulmonary disease (Pearl Therapeutics), cardio metabolic diseases and cancer (Arisaph Pharmaceuticals), antibiotic resistant bacterial infections (Melinta Therapeutics), and celiac disease (ImmusanT)

2006

Kos Pharmaceuticals was sold to Abbott Labs in 2006 for $4

1986

In 1986, Jaharis and wife Mary Jaharis founded the Jaharis Family Foundation, Inc

1972

In 1972, he became President and CEO of Key Pharmaceuticals, which was essentially an insolvent company known for cold and cough remedies

1961

From 1961 to 1972, he worked for Miles Laboratories

1928

Jaharis was born in Evanston, Illinois on July 16, 1928

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