In his more than 40 years in the pharmaceutical industry, John Kapoor made a name for himself as a leader in the running of several great businesses. Kapoor started Insys Therapeutics and ran one of the most profitable companies that made pharmaceutical opioids on the market. A legal fight over the marketing practices of his old company, on the other hand, changed his career and personal life in a big way. Today, we’re going to talk more about John Kapoor’s early life, work, personal life, real estate holdings, and legacy.
|Birth Place||Phoenix, Arizona, United States|
|Age||81 YEARS OLD|
|Residence||Phoenix, Arizona, US|
|Alma mater||Institute of Chemical Technology, Mumbai SUNY Buffalo|
|Known for||Founder, Akorn Pharmaceuticals Founder and chairman, Insys Therapeutics|
|Spouse(s)||Editha Kapoor (deceased)|
How much does John Kapoor make?
According to estimates from 2021, John Kapoor’s net worth is $1.8 billion. This makes him one of the richest people in the drug business. Most of Kapoor’s wealth came from the shares he owned in different pharmaceutical companies over the years. As CEO of Insys Therapeutics, he was making a good salary when he was at the top of his game. His net worth, on the other hand, has dropped a lot because of lawsuits and fines linked to the way his old company advertised.
Early Life and Education
This is where John Kapoor was born in 1942. He grew up in a small village close to Amritsar. He came from a poor family, and his parents taught him from a young age how important it was to go to school. Kapoor went to the University of Bombay to get a degree in pharmacy before starting to study in the United States. In 1971, he got his Ph.D. in medical chemistry from the University of Buffalo.
A Career of John Kapoor
Kapoor started working in the pharmaceutical business in the 1970s. He did work for Lyphomed, Bristol-Myers Squibb, and Eli Lilly, among others. Kapoor helped start a drug business called Akorn in the mid-1990s. It specialized in generic drugs. He left Akorn in 2008 to start Insys Therapeutics after taking the business public.
Insys became very famous very quickly because of how well their prescription opioid Subsys worked. It was approved to treat cancer pain. But soon after, the company was accused of paying doctors to prescribe the drug without a valid reason. This led to a criminal probe and several lawsuits. Kapoor was given five years in jail and a $250,000 fine in 2019 for his part in making illegal Subsys sales.
His Life in general
Kapoor was married to Karen Sampson Kapoor, and the two of them had two children. Kapoor was known for giving a lot of money to good causes. He gave millions to many groups and organizations, including the University of Buffalo, which used the money to build a new pharmacy school building. But the Insys scandal hurt his image, and he will now have to deal with years of legal battles and close scrutiny.
The Real Estate John Kapoor
Kapoor invested in many properties over the course of his work, including a fancy mansion in Phoenix, Arizona. But after he got into trouble with the law, the government took many of his belongings, including several homes.
Kapoor left behind a complex legacy in the drug business. On the one hand, he was a smart businessman who built a number of great companies and made a big difference in the growth of the industry. In contrast, he will always be linked to the debate surrounding the illegal sale of opioids and the terrible effects it has had on communities across the country.
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John Kapoor’s journey from a pharmaceutical titan to a convicted felon serves as a cautionary tale. His rise and fall are a stark reminder of the consequences of unethical business practices. As of 2022, his net worth has significantly diminished due to legal actions, marking the downfall of a once-wealthy and influential figure in the pharmaceutical industry.