Post by miamianne67 on Nov 3, 2019 3:32:30 GMT
Marc Watson, lawyer and co-founder with Frost of drugmaker IVAX, dead at 74
BY ROB WILE
OCTOBER 31, 2019 02:59 PM, UPDATED OCTOBER 31, 2019 06:25 PM
Marc Watson with his dog, Will.
Marc Watson with his dog, Will. MARC WATSON FAMILY
Marc Watson, a lawyer who co-founded both a prominent Miami law firm and drugmaker IVAX, died Sunday after a long illness. He was 74.
Watson moved to South Florida from New York as a young boy. As a teen, he attended Coral Gables High School, where he met his future wife, Sharon; the couple was married for 52 years. After graduation he stayed in Miami to attend the University of Miami for his undergraduate and law degrees.
He moved to Washington, D.C., to begin his legal career at the Securities and Exchange Commission, then returned to South Florida and co-founded the firm Arky, Freed, Stearns, Watson and Greer, where he worked as a securities lawyer for almost 15 years. The firm grew to become one of the largest law firms in Miami; it lives on today as Stearns, Weaver.
In 1986, Watson, who long held an interest in medicine, helped found IVAX with Phillip Frost, the doctor, entrepreneur and philanthropist. IVAX would go on to employ as many as 900 individuals locally before being sold to pharma giant Teva in 2006 for $7.4 billion.
Watson went on help establish other local companies, including Exact Science and Sano Corp. Exact was eventually acquired by Abbott Laboratories, while an Irish conglomerate purchased Sano in 1997 for nearly $400 million.
Watson co-founded the Florida Venture Forum in 1984. In the ensuing decades, its annual venture capital conference has helped generate more than $2.8 billion worth of capital.
During the dot-com boom, Marc and his son Kevin became lead investors in About.com, now owned by media giant IAG.
Local arts executive Dennis Scholl called Watson “the most important mentor I ever had.”
“He could look at three startup companies, like three lumps of clay, and knew which company to fund and how to nurture it,” Scholl said. “I’ve never seen that before and have never seen it since.”
Lawyer Bruce Greer, a longtime friend, said Watson’s lasting legacy is his dedication to his family.
“His businesses were just a vehicle for providing,” Greer said. “Money was not the meaning of life.”
Watson made his home in Aventura and Colorado. He is survived by his wife, Sharon, his children Pam and Kevin, four grandchildren, and his brother Glenn
Read more here: www.miamiherald.com/news/business/article236828833.html#storylink=cpy
BY ROB WILE
OCTOBER 31, 2019 02:59 PM, UPDATED OCTOBER 31, 2019 06:25 PM
Marc Watson with his dog, Will.
Marc Watson with his dog, Will. MARC WATSON FAMILY
Marc Watson, a lawyer who co-founded both a prominent Miami law firm and drugmaker IVAX, died Sunday after a long illness. He was 74.
Watson moved to South Florida from New York as a young boy. As a teen, he attended Coral Gables High School, where he met his future wife, Sharon; the couple was married for 52 years. After graduation he stayed in Miami to attend the University of Miami for his undergraduate and law degrees.
He moved to Washington, D.C., to begin his legal career at the Securities and Exchange Commission, then returned to South Florida and co-founded the firm Arky, Freed, Stearns, Watson and Greer, where he worked as a securities lawyer for almost 15 years. The firm grew to become one of the largest law firms in Miami; it lives on today as Stearns, Weaver.
In 1986, Watson, who long held an interest in medicine, helped found IVAX with Phillip Frost, the doctor, entrepreneur and philanthropist. IVAX would go on to employ as many as 900 individuals locally before being sold to pharma giant Teva in 2006 for $7.4 billion.
Watson went on help establish other local companies, including Exact Science and Sano Corp. Exact was eventually acquired by Abbott Laboratories, while an Irish conglomerate purchased Sano in 1997 for nearly $400 million.
Watson co-founded the Florida Venture Forum in 1984. In the ensuing decades, its annual venture capital conference has helped generate more than $2.8 billion worth of capital.
During the dot-com boom, Marc and his son Kevin became lead investors in About.com, now owned by media giant IAG.
Local arts executive Dennis Scholl called Watson “the most important mentor I ever had.”
“He could look at three startup companies, like three lumps of clay, and knew which company to fund and how to nurture it,” Scholl said. “I’ve never seen that before and have never seen it since.”
Lawyer Bruce Greer, a longtime friend, said Watson’s lasting legacy is his dedication to his family.
“His businesses were just a vehicle for providing,” Greer said. “Money was not the meaning of life.”
Watson made his home in Aventura and Colorado. He is survived by his wife, Sharon, his children Pam and Kevin, four grandchildren, and his brother Glenn
Read more here: www.miamiherald.com/news/business/article236828833.html#storylink=cpy