Phillip Frost bought $10 million of Israel Bonds in the past few days, because of the security situation
Sources inform ''Globes'' that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) chairman Dr. Phillip Frost has bought $10 million of State of Israel Bonds in the past few days, because of the security situation.
Frost, whose fortune "Forbes" estimates at $2.4 billion (in 190th place on the magazine's US billionaires list), is a Jew who lives in Florida. A dermatologist by training, he made most of his fortune in Ivax Corporation, which he founded, and sold to Teva for $7.4 billion in 2006. He succeeded Teva chairman Eli Hurvitz in 2010, becoming the company's first non-Israeli chairman. He currently owns 1.6% of Teva, worth $570 million.
Frost was reelected as Teva's chairman six months ago for another three-year term.
Frost's investments in the life sciences include a 19.8% stake in Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH).
Published by Globes [online], Israel business news - www.globes-online.com - on November 20, 2012
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