Another Indian American Joins Forbes Billionaires List

johnkapoor_insert_2
johnkapoor_insert_2

He came from India to the United States in 1964 with big dreams and an entrepreneurial bug, and now Dr. John N. Kapoor is a newly minted billionaire says Forbes Magazine. John Kapoor started his career in 1972 when, upon completion of his Ph.D from Buffalo University in medicinal chemistry, he joined a pharmaceutical company, LyphoMed. He became the CEO of the company in 1983 and publicly took over. After a decade from the company, he sold his share and earned $100 million. He established two pharmaceutical companies, Akron in 1990 and INSYS Therapeutics that went public on May 2014.

Shares of pharmaceutical manufacturer INSYS Therapeutics surged this week pushing the Indian born health-care veteran’s holding to more than $600 million on just over 14 million shares says Forbes magazine. Kapoor is the founder and executive chairman of the Arizona-based company, which is up about 30% since Friday and trading around $44 per share. He is largest shareholder of INSYS, which makes drugs that provide support and therapy to cancer patients. His other other investments — including a more than $400 million stake in another drug maker — push Kapoor’s worth well over $1 billion.

John Nath Kapoor was born in Amritsar, India, and graduated from Bombay University with a degree in pharmacy. He moved to Lake Forest, IL from India. He has four children and now lives in Phoenix, Arizona.

Kapoor began his corporate career on Grand Island, New York as general manager for Lyphomed, a unit of Stone Container Corp. He was named president of the division in 1980 and in 1981 he bought it for $2.7 million. He took the company’s sales from $4 million to $172 million before eventually selling it. With the profits, he formed EJ Financial Enterprises Inc, which invests in healthcare startups.

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