Skip to comments.WVU Patron,Philanthropist, Pharmaceutical giant, Milan Puskar dies (another AMerican success story)
Posted on 10/07/2011 9:17:17 PM PDT by MadelineZapeezda
CHARLESTON, W.Va. -- Milan "Mike" Puskar, co-founder of the third-largest generic pharmaceuticals company in the world and longtime donor to West Virginia University, died Friday at age 77.
Puskar died at 8:30 p.m. in Morgantown after a battle with cancer, said Steve Lorenze, his business partner.
In 1961, Puskar co-founded Mylan Laboratories Inc. in Morgantown. The company began as a distributor, buying finished goods and reselling them to pharmacies and physicians. In 1966, it received approval from the U.S. Food and Drug Administration to manufacture its first medicine, Penicillin G.
Mylan now is a Fortune 500 company with headquarters in Canonsburg, Pa. By 2001, it had earned more than $1 billion.
When Puskar stepped down as chairman of the company in 2009, Mylan was worth more than $3.5 billion, according to its website.
Puskar was a longtime donor to WVU and a Mountaineer athletics fan. The WVU football stadium and facilities buildings are named in his honor.
His largest gift was a $20 million contribution to the WVU Foundation's Building Greatness campaign in 2003. He has the distinction of making the largest one-time cash gift in the foundation's history, according to a news release from the university.
(Excerpt) Read more at wvgazette.com ...
I was honored to have know this gentleman and am deeply saddened by his passing. There is not a Serbian Church on this land, or cause that he did not support in some way or help build. I know that pharmaceuticals were sent to Serbia during the war from Mylan Labratories....just wanted to name a few of the extra special contributions that were not listed in the story. Milan, you left this world in a better place because of you.....you will be missed. May his Memory be Eternal
His influence in Morgantown and at West Virginia University was profound: In 2003, he donated $20 million to the Building Greatness fundraising campaign, a gift the WVU Foundation says remains the largest one-time cash gift in the school's history.
Of that gift, $14.5 million went to athletics, and the stadium at Mountaineer Field now bears his name. The other $5.5 million supported academic and leadership programs. Foundation spokesman Bill Nevin said Puskar also supported the School of Pharmacy, WVU Hospitals, WVU Children's Hospital, the School of Medicine, the Rosenbaum Family House and other WVU entities over the years.
In 2005, he was the first recipient of the Foundation's Outstanding Philanthropist award, and in June, that award was renamed to honor him. He served on the Foundation's board of directors from 1997 to 2000.
A 1960 graduate of Youngstown State University in Ohio, Puskar was inducted into the Order of Vandalia, the highest honor WVU bestows. He also received honorary doctorates from WVU, Duquesne University and Fairmont State.
Wayne King, president and CEO of the WVU Foundation, said in a statement that Puskar "embodied the true meaning of generosity by transforming and enriching lives through his philanthropy."
I, too salute the founder of one of my company’s competitors. Mylan is a fine company.
Milan Puskar is the medical/pharma equivalent to Steve Jobs, both giants in their fields, Milan probably saved more lives making generic antibiotics/pharmaceuticals available....and gave most of his money away.
My great-grandfather was the dean of WVU's agriculture department for many years, so I like to keep an eye on news articles pertaining to the university.
Truly great people still do exist.
RIP Mr. Puskar.
I would not be surprised today if Mr. Puskar will get a special honor at the upcoming WVU/UConn football game in Morgantown.
I knew then it was a matter of time :(((
That is GREATNESS, which this week went into short supply, with the passings of both Mr. Pusker and Mr. Jobs.
Ironic, with all the anti-capialists protesting and occupying WallSt this week...Here’s a man from immigrant(Serbian) parents, along with a biz partner start a company in a basement.....turn it into a billion dollar Fortune500 business, employ over 18,000 people....gives most of it all back to the people and community he so loved in grants, cancer research, student scholarships, parks....you name it. Only in America
You got that right, ONLY in America!
(I knew Mike personally. I went to WVU and worked at Mylan for five years. Mike hired me right out of college. It's a great company and Mike was a wonderful man. RIP.
I am sorry for your loss -- and the loss to this world, that he made a better place.
Vecnaja Pamjat! Memory Eternal!
B...can you please ping the Serb list?
May his memory be eternal! Bog da go prostit!
Since the “anti-capitalist” protests are engineered by ACORN and SEIU, with help from the Serbophobe Soros, despite the few useful idiots whom the media focus on, they have no meaning whatsoever!
Milan Puskar stands head and shoulders above the moral midgets who are engineering these phony “protests”, which amount to so much background noise!!!!
Thanks for ping Boka, this is a good one.