Alan Cohen

Alan Phillip Cohen (born October 5, 1954) is an American businessman, best known for his ownership of the Florida Panthers hockey team and his founding of several pharmaceutical companies. Cohen holds several degrees from the University of Florida.

Early life and career

Born to a Jewish family he made his reputation in the business world as the founder of generic pharmaceutical concerns, most notably the Davie, Florida-based Andrx Corp. Cohen, who still maintains a pharmacist's license, has been described by colleagues as an intense, driven man who prefers to stay out of the limelight, but his professional life has frequently thrust him into the headlines.

He founded the drug distribution firm Best Generics Inc. in 1984 and sold it to Florida's Ivax Corporation in 1988 for $10 million although he stayed as president until 1990. He incorporated Andrx Pharmaceuticals Inc. in 1992 as a private company. The new firm grew through the production of generic drugs when patents expired and drugs using the company's time-release technology. In 1996, the company went public at $12 and its stock eventually soared as high as $400 a share split adjusted. In August 2000, Cohen sold 500,000 shares of Andrx stock for $43 million with the stated goal of leaving the company and bankrolling the purchase of a professional sports team. Cohen's stock was worth around $700 million.