Don Panoz
Encyclopedia
Dr. h.c. Donald Panoz (born February 13, 1935, in Alliance, Ohio
) is an American
entrepreneur
who made his name in pharmaceuticals and has since become a successful owner of various motorsport
ventures.
in the 1900s. Eugene, who shortened his surname from the traditional Panunzio to Panoz, was a champion featherweight
boxer
.
Panoz attended Greenbrier Military School
in Lewisburg, West Virginia
, where he met Nancy, whom he would later marry. The two both served in Japan
with the United States Army
, then moved to Pittsburgh
upon their return to the United States.
. In 1961, Panoz and Milan Puskar
formed Milan Pharmaceuticals
(which would later be renamed Mylan) in White Sulphur Springs, West Virginia
. While head of this company, Panoz headed a research group that invented time-release medication through a transdermal patch
, known most commonly in today's market for its nicotine
application.
Panoz left Mylan in 1969 when the company refused to develop the patch, and subsequently moved the family to Ireland
where he formed Élan Corporation
. This company has since become an industry leader in drug delivery products and technology, continues to hold the worldwide patent for the nicotine patch
, and was the first Irish company to be publicly listed in the U.S. stock market
.
Don & Nancy Panoz founded Château Élan Winery & Resort
in Braselton, Georgia
, in 1992. The couple still own this resort, which has since grown to 3500 acres (14.2 km²). The Panozes sold a portion of their businesses to three partners in 2004. Similarly in Patterson, California
, 35 miles east of San Jose, the Panozes founded the Diablo Grande Winery and Resort; and later they founded the St. Andrews Bay Resort and Spa in Scotland. This venue has since been sold and is now managed by Fairmont Hotels and Resorts
as the Fairmont St Andrews
. These venues feature golf course designs and collaborations from Bruce Devlin, Denis Griffiths, Jack Nicklaus, Gene Sarazen, and Sam Torrance.
on board with the goal of entering a Panoz race car in the 24 Hours of Le Mans
race.
Panoz Motorsports
was formed in 1997 in Braselton and entered its brand new car, the Panoz Esperante GTR-1
, at Le Mans. The team was competitive, finishing ahead of all but two of the major factory teams in its class.
In 1999, Panoz founded the American Le Mans Series
with the aim of bringing European-style endurance sports car racing to the Americas.
Alliance, Ohio
Alliance is a city in Stark and Mahoning counties in the U.S. state of Ohio. The population was 22,322 at the 2010 census. Alliance's nickname is "The Carnation City", and the city is home to the University of Mount Union....
) is an American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
who made his name in pharmaceuticals and has since become a successful owner of various motorsport
Motorsport
Motorsport or motorsports is the group of sports which primarily involve the use of motorized vehicles, whether for racing or non-racing competition...
ventures.
Early life
Panoz is an Italian-American. His father, Eugene Panunzio, immigrated to the United States from ItalyItaly
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
in the 1900s. Eugene, who shortened his surname from the traditional Panunzio to Panoz, was a champion featherweight
Featherweight
Featherweight is a weight class division in the sport of boxing. There are similarly named divisions under several Mixed Martial Arts organizations and in Greco-Roman wrestling.-Professional boxing:...
boxer
Boxing
Boxing, also called pugilism, is a combat sport in which two people fight each other using their fists. Boxing is supervised by a referee over a series of between one to three minute intervals called rounds...
.
Panoz attended Greenbrier Military School
Greenbrier Military School
The Greenbrier Military School was a boys-only, private, military, boarding high school located in Lewisburg, West Virginia. It was founded in 1812.It closed in 1972...
in Lewisburg, West Virginia
Lewisburg, West Virginia
Lewisburg is a city in Greenbrier County, West Virginia, United States. The population was 3,830 at the 2010 census. It is the county seat of Greenbrier County.-Geography:Lewisburg is located at ....
, where he met Nancy, whom he would later marry. The two both served in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
with the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
, then moved to Pittsburgh
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
upon their return to the United States.
Business career
Panoz operated two drug stores in Pittsburgh while studying business at Duquesne UniversityDuquesne University
Duquesne University of the Holy Spirit is a private Catholic university in Pittsburgh, Pennsylvania, United States. Founded by members of the Congregation of the Holy Spirit, Duquesne first opened its doors as the Pittsburgh Catholic College of the Holy Ghost in October 1878 with an enrollment of...
. In 1961, Panoz and Milan Puskar
Milan Puskar
Milan "Mike" Puskar was an entrepreneur and philanthropist from Morgantown, West Virginia. He was born to Serbian parents....
formed Milan Pharmaceuticals
Mylan Laboratories Inc.
Mylan Inc. is a global generic and specialty pharmaceuticals company headquartered in Canonsburg, Pennsylvania. In 2007, Mylan acquired a controlling interest in India-based Matrix Laboratories Limited, a top producer of active pharmaceutical ingredients for generic drugs, and the generics...
(which would later be renamed Mylan) in White Sulphur Springs, West Virginia
White Sulphur Springs, West Virginia
White Sulphur Springs is a city in Greenbrier County, West Virginia, United States. The population was 2,444 at the 2010 census.-Geography:White Sulphur Springs is located at ....
. While head of this company, Panoz headed a research group that invented time-release medication through a transdermal patch
Transdermal patch
A transdermal patch is a medicated adhesive patch that is placed on the skin to deliver a specific dose of medication through the skin and into the bloodstream. Often, this promotes healing to an injured area of the body. An advantage of a transdermal drug delivery route over other types of...
, known most commonly in today's market for its nicotine
Nicotine
Nicotine is an alkaloid found in the nightshade family of plants that constitutes approximately 0.6–3.0% of the dry weight of tobacco, with biosynthesis taking place in the roots and accumulation occurring in the leaves...
application.
Panoz left Mylan in 1969 when the company refused to develop the patch, and subsequently moved the family to Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
where he formed Élan Corporation
Élan
Élan Corporation plc is a major drugs firm based in Athlone, County Roscommon, Ireland which has major interests in the United States. In the late 1990s its value on the Irish Stock Exchange reached over €20bn. It has secondary listings on the London Stock Exchange and the New York Stock Exchange....
. This company has since become an industry leader in drug delivery products and technology, continues to hold the worldwide patent for the nicotine patch
Nicotine patch
A nicotine patch is a transdermal patch that releases nicotine into the body through the skin. It is used as an aid in nicotine replacement therapy , a process for smoking cessation. The first published study of the pharmacokinetics of a transdermal nicotine patch in humans was authored by Jed E....
, and was the first Irish company to be publicly listed in the U.S. stock market
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
.
Don & Nancy Panoz founded Château Élan Winery & Resort
Chateau Elan
Chateau Elan is the largest winery in Georgia, located in Braselton, north of Atlanta.It was founded in 1982 by Dr. Don Panoz who came from the pharmaceutical industry.The facility is but only 50 are dedicated to the vineyard...
in Braselton, Georgia
Braselton, Georgia
Braselton is a town in Barrow, Gwinnett, Hall, and Jackson Counties in the U.S. state of Georgia, about 40 miles northeast of Atlanta. As of the 2010 census, the city had a population of 7,511....
, in 1992. The couple still own this resort, which has since grown to 3500 acres (14.2 km²). The Panozes sold a portion of their businesses to three partners in 2004. Similarly in Patterson, California
Patterson, California
Patterson is a city in Stanislaus County, California, United States, located off Interstate 5. It is 45 miles southeast of Livermore and part of the Modesto Metropolitan Statistical Area. Patterson is known as the "Apricot Capital of the World"; the town holds an annual Apricot Fiesta to...
, 35 miles east of San Jose, the Panozes founded the Diablo Grande Winery and Resort; and later they founded the St. Andrews Bay Resort and Spa in Scotland. This venue has since been sold and is now managed by Fairmont Hotels and Resorts
Fairmont Hotels and Resorts
Fairmont Hotels & Resorts is a Canadian-based operator of luxury hotels and resorts. Currently, Fairmont operates properties in 18 countries including Canada, the United States, Mexico, Bermuda, Barbados, United Kingdom, Monaco, Germany, Switzerland, Egypt, Kenya, Tanzania, South Africa, the...
as the Fairmont St Andrews
Fairmont St Andrews
The Fairmont St Andrews is a 5 star resort hotel situated outside the town of St Andrews in Fife, Scotland. The hotel is managed by Fairmont Hotels and Resorts and owned by AREA Property Partners.-History:...
. These venues feature golf course designs and collaborations from Bruce Devlin, Denis Griffiths, Jack Nicklaus, Gene Sarazen, and Sam Torrance.
Panoz in motorsports
In 1989, Panoz funded an upstart company started by his son Dan, called Panoz Auto Development. Reportedly, the senior Panoz was skeptical at first of his son's venture, but later used his position in the business world to bring celebrity motorsport figures such as Mario AndrettiMario Andretti
Mario Gabriele Andretti is a retired Italian American world champion racing driver, one of the most successful Americans in the history of the sport. He is one of only two drivers to win races in Formula One, IndyCar, World Sportscar Championship and NASCAR...
on board with the goal of entering a Panoz race car in the 24 Hours of Le Mans
24 Hours of Le Mans
The 24 Hours of Le Mans is the world's oldest sports car race in endurance racing, held annually since near the town of Le Mans, France. Commonly known as the Grand Prix of Endurance and Efficiency, race teams have to balance speed against the cars' ability to run for 24 hours without sustaining...
race.
Panoz Motorsports
Panoz
Panoz Auto Development is an American manufacturer of high-performance automobiles founded in 1989 by Dan Panoz, son of pharmaceutical and motorsport mogul Don Panoz. The company is located in Braselton, GA. Panoz products have included the Panoz Roadster and AIV Roadster, and the Panoz Esperante...
was formed in 1997 in Braselton and entered its brand new car, the Panoz Esperante GTR-1
Panoz Esperante GTR-1
The Panoz Esperante GTR-1 was a race car developed by Panoz Auto Development and Reynard Motorsport for grand tourer endurance racing in 1997. Although named after the Panoz Esperante roadster, the GTR-1 actually bore no mechanical relation to the production Esperante, instead sharing only minor...
, at Le Mans. The team was competitive, finishing ahead of all but two of the major factory teams in its class.
In 1999, Panoz founded the American Le Mans Series
American Le Mans Series
The American Le Mans Series presented by Tequila Patrón is a sports car racing series based in the United States and Canada. It consists of a series of endurance and sprint races, and was created in the spirit of the 24 Hours of Le Mans. Teams compete in one of five classes: LMP1, LMP2 and LMPC...
with the aim of bringing European-style endurance sports car racing to the Americas.
Holdings
Today, the holdings of Don Panoz and his family include the following:- Château Élan Winery & Resort
- Diablo Grande Winery & Resort
- Élan Natural Waters
- Fountainhead Development Corporation
- Panoz Auto Development Company
- The Vintage Golf Club, Hunter Valley, NSW, Australia
- Van Diemen InternationalVan DiemenVan Diemen International, Ltd. is a British race car manufacturer based in Snetterton, Norfolk, England.The company has a reputation for high-volume production runs of its cars, the most well-known of which is its series of Formula Ford chassis, which have been at the forefront of that class of...
- Mosport International RacewayMosportMosport International Raceway is a multi-track facility located north of Bowmanville, Ontario, Canada. The facility features a , 10-turn road course; a half-mile paved oval; a 2.4 km advance driver and race driver training facility with a quarter-mile skid pad Mosport International Raceway...
- Road AtlantaRoad AtlantaRoad Atlanta is a 2.54-mile road course located just north of Braselton, Georgia, USA. The facility is utilized for a wide variety of events, including professional and amateur sports car and motorcycle races, racing and driving schools, corporate programs and testing for motorsports teams...
- Sebring RacewaySebring RacewaySebring International Raceway is a road course auto racing facility located near Sebring, Florida.Sebring Raceway is one of the oldest continuously-operating race tracks in the United States, its first race being run in 1950...
(long-term lease)
Quotes
Regarding son Dan's business venture, Panoz Auto Development:- "My first words were 'Don't you remember TuckerPreston TuckerPreston Thomas Tucker was an American automobile designer and entrepreneur.He is most remembered for his 1948 Tucker Sedan , an automobile which introduced many features that have since become widely used in modern cars...
and DeLorean?' But Danny had a dream, and I believe you should chase your dream." - "Like any father, I'm free with advice, and I told Danny he needed some racing heritage to establish the Panoz name. He told me, 'You do the racing, and I'll keep building the cars.'"