Michael Jaharis, American businessman and philanthropist, Died at 87


Michael Jaharis was born on July 16, 1928, and died on February 17, 2016.

He was an American businessman and philanthropist.

Michael Jaharis was the founder of Kos Pharmaceuticals and Vatera Healthcare Partners LLC, and co-founder of Arisaph Pharmaceuticals.

The businessman worked for Miles Laboratories, from 1961 to 1972,

He was the President and CEO of Key Pharmaceuticals, in 1972, which was essentially an insolvent company known for cold and cough remedies.

Beneath 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.

The company, Key Pharmaceuticals was sold to Schering-Plough Corporation in 1986.

Michael Jaharis founded Kos Pharmaceuticals, Inc, in 1988.

Beyond that, he created the cholesterol-battling drug Niaspan, which raises HDL levels.

And, in 2006, Kos Pharmaceuticals was sold to Abbott Labs for $4.2 billion.

Michael Jaharis passed away at 87 yrs old.