Michael Jaharis Jr. '50
2007 Distinguished Alumnus Award for Professional Achievement
A strong Greek work ethic has driven Michael Jaharis Jr. '50 to commendable professional
success. At age 78, Jaharis served as the chairman emeritus and director of Kos Pharmaceuticals,
Inc., a company that developed drugs to treat chronic cardiovascular and respiratory
diseases, with a focus on improving existing FDA-approved drugs. Jaharis was co-founder
of the company and served as chairman of the board since its inception in 1988. In
his role as chairman, Jaharis was actively involved in the development of the company’s
business strategy.
Jaharis holds an associate degree from Park College and a bachelor’s degree in business
administration from Carroll. During his Carroll tenure, he was a member of the football
team, Varsity letter winner and member of the Beta Pi Epsilon fraternity.
Following graduation in 1950, Jaharis served in the Korean War where he developed
an interest in medicine which influenced his professional career in the pharmaceutical
field. His professional career began at Miles Laboratories in 1953. During the day
he worked at Miles as a sales representative, and went to school in the evenings at
DePaul University where he obtained a law degree in 1958. He would serve as legal
counsel and eventually became vice president and general counsel of the pharmaceutical
company’s Ethical Drug Division.
In 1972, Jaharis and partner Dr. Phillip Frost acquired Key Pharmaceuticals and turned
the tiny producer of cough and cold remedies into a powerhouse with newly-developed,
top-selling asthma and cardiovascular drugs. Under his leadership as president and
chief executive officer, Key’s sales increased 100-fold before the company’s $836
million merger with Schering-Plough in 1986.
Two years later Jaharis launched Kos Pharmaceuticals, which dominated the market with
its cholesterol-lowering drug niaspan before being sold to Abbott Labs in 2006 for
$4.2 billion. Today, he is founder and director of Arisaph Pharmaceuticals Inc., a
privately held drug discovery and design company, and a founder of Vatera Capital
LLC, a private investment firm focusing on the healthcare industry.
Jaharis served on the Carroll Board of Trustees from 1980-1991. He is also a trustee
of Tufts University Medical School, where his son Steven Jaharis earned his medical
doctorate; former director of the National Asthma & Allergy Foundation; board member
on the U.S. Greek Business Council and Leadership 100, an endowment fund for the Greek
Orthodox ministries; pioneer member of Dade County United Way and a former member
of the American Lung Association President’s Council. He is currently a director of
the Jaharis Family Foundation.
