Michael Jaharis

About Michael Jaharis

Birth Day: July 16, 1928
Birth Place: United States
Died On: February 17, 2016(2016-02-17) (aged 87)\nNew York, New York, US
Birth Sign: Leo
Education: Carroll University DePaul University College of Law
Occupation: Lawyer and Businessman
Known for: Founder of Kos Pharmaceuticals Founder of Vatera Healthcare Partners Co-Founder of Arisaph Pharmaceuticals
Spouse(s): Mary Jaharis
Children: Two

Michael Jaharis Net Worth

Michael Jaharis was bornon July 16, 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.
Michael Jaharis is a member of Health care

💰 Net worth: $2.2 Billion

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

Some Michael Jaharis images

Biography/Timeline

1928

Jaharis was born in Evanston, Illinois on July 16, 1928. He graduated from Carroll University and received a J.D. from DePaul University College of Law.

1961

From 1961 to 1972, he worked for Miles Laboratories. In 1972, he became President and CEO of Key Pharmaceuticals, which was essentially an insolvent company known for cold and cough remedies. Under his leadership, the company developed sustained-release Theo-Dur (theophylline), which became the nation's best-selling asthma remedy at the time, and cardiovascular drug Nitro-Dur. Key Pharmaceuticals was sold to Schering-Plough Corporation in 1986. In 1988, he founded Kos Pharmaceuticals, Inc. The company introduced the cholesterol-battling drug Niaspan, which raises HDL levels. Kos Pharmaceuticals was sold to Abbott Labs in 2006 for $4.2 billion.

1986

He has made charitable contributions to the DePaul University College of Law, Columbia University Medical Center, the Weill Cornell Medical College of Cornell University, the Tufts University School of Medicine, the Metropolitan Museum of Art, the Art Institute of Chicago, and the Metropolitan Opera. He was the founder of FAITH: An Endowment for Orthodoxy and Hellenism. He also served as Trustee Emeritus of Tufts University and Chairman of the Board of Overseers for the School of Medicine of Tufts University; member of the Columbia University Medical Center Board of Visitors; member of the Board of Overseers of the Weill Cornell Medical College and Graduate School of Medical Sciences. He sat on the Board of Directors of the Onassis Public Benefit Foundation, and he was Vice Chairman of the Greek Orthodox Archdiocese of America. In 1986, Jaharis and wife Mary Jaharis founded the Jaharis Family Foundation, Inc. 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 Health care Partners LLC, a New York City-based investment group focused on taking active positions in Health care 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).

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 $2.2 billion.

2016

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