Phillip Frost at 78 isn’t your usual Florida retiree. Rather than spending his days playing golf and relaxing, the billionaire former chairman of Teva Pharmaceutical Industries Ltd. has embarked on his life’s most quixotic quest: a blockbuster cure for obesity.
Many before him have have tried and failed. Medicines currently on the market haven’t sold well. And investors are a little skeptical about Frost’s latest wager.