Founder of Kos Pharmaceuticals Founder of Vatera Healthcare Partners Co-Founder of Arisaph Pharmaceuticals
Spouse
Mary Jaharis
Children
2
Michael Jaharis (July 16, 1928 – February 17, 2016) was an American lawyer, businessman and philanthropist. He was the founder of Kos Pharmaceuticals and Vatera Healthcare Partners LLC, and co-founder of Arisaph Pharmaceuticals.[1][2][3]
From 1961 to 1972, he worked for Miles Laboratories.[2] In 1972, he became President and CEO of Key Pharmaceuticals, which was essentially an insolvent company known for cold and cough remedies.[5] 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.[6][7] Key Pharmaceuticals was sold to Schering-Plough Corporation in 1986.[2][3] In 1988, he founded Kos Pharmaceuticals, Inc.[1][2] The company introduced the cholesterol-battling drug Niaspan, which raises HDL levels.[8] Kos Pharmaceuticals was sold to Abbott Labs in 2006 for $4.2 billion.[1][2]
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.[1]
Jaharis died February 17, 2016, in his home in New York City with his family by his side.[12]