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RANK

IN
1998

DONOR NAME

INDUSTRY

TOTAL
CONTRIBUTIONS

 

PARTY

                       
 

53

 

336

 

Dr. Phillip Frost (with Patricia)
Chairman & CEO, Ivax Corp., Miami, FL

 

Health

 

$485,000

 


Dr. Phillip Frost (with Patricia)
March 5, 2001

Amid the torrent of federal campaign contributions from the pharmaceutical industry -- $24.5 million since 1999 -- a schism has emerged. Makers of brand-name drugs have gone to Congress pleading for patent extensions on their products, arguing that more profit will lead to more research and better drugs. By contrast, makers of generic drugs have fought to end political and legal delays used by the brand-name companies, calling patent extensions a burdensome tax on the cost of health care.

Ivax Corporation, a generic drug manufacturer headed by Phillip Frost, subscribes to the latter argument. Frost's company has repeatedly gone to court to fight for the right to produce generic versions of brand-name drugs with expiring patents. In addition to giving $450,000 in soft money to the Democratic Party, Frost recently gave the maximum legal contribution of $2,000 to Rep. Peter Deutsch (D-Fla.), who co-sponsored the "Prescription Drug Competition Act of 2000" to ensure the "timely availability of generic drugs through the enhancement of drug approval and antitrust laws." Deutsch also sat on the House Subcommittee on Health and Environment, which reviewed the bill in October. Patricia Frost, who lists her occupation as homemaker, gave $5,000 to a political action committee in the 29th Congressional District. Rep. Henry Waxman, who represents the district, sits on the subcommittee with Deutsch.

On the Senate side, a similar bill promoting generic drugs was presented to the Health, Education, Labor and Pensions Committee, chaired by Senator James Jeffords (R-Vt.). Patricia Frost gave Jeffords $1,000, one of only two Republican contributions the couple made. The other went to the "victory committee" of Senator Orrin Hatch (R-Utah), who chairs the Judiciary Committee and serves on the Antitrust, Business Rights and Competition Subcommittee.

A trained dermatologist, Frost has begun to move Ivax towards developing its own drugs. The company now produces asthma medication, a drug for the treatment of cancer, as well as a number of generics. Like other drug manufacturers, the company is heavily dependent on federal approval for almost every part of its business. In recent years, the company has also begun to expand overseas, purchasing drug companies in Mexico and Venezuela and distributing its medications throughout Europe. Forbes estimates Frost's wealth at $830 million.

-- Michael Scherer

 
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THE HEALTH INDUSTRY
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The top contributors in this industry include:
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1. S. Daniel Abraham
diet-drink fat cat
53.Phillip Frost
generic giver
66.Alan Solomont
"ward bosses of the 21st century"
111. Agnes Varis
on the Rx board

All contributors in this industry

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