The University of Arizona has announced a $50 million commitment from alumnus R. Ken Coit ('67) in support of the College of Pharmacy.

Awarded through his family foundation, the gift will rename the college the R. Ken Coit College of Pharmacy and establish six endowed chairs in drug discovery, neurodegenerative diseases, and toxicology; create an endowment to support scholarships for the college's doctor of pharmacy and doctoral programs; and support research equipment and facility upgrades. A portion of the gift already has helped fund an expanded wing of the college's museum, which will open in the spring of 2022 and be named the Coit Museum of Pharmacy and Health Sciences.

Coit practiced pharmacy for three years before beginning a career in investing and financial planning. He and his family previously established the R. Ken Coit Endowed Chair, and in 2016, he committed $2 million to the Skaggs Challenge.

"I may not be a pharmacist now, but I learned a lot in pharmacy school that's still important to me," said Coit. "My professors demonstrated high ethical standards and integrity and taught me how to take care of patients. They really instilled that we were there to take care of others. I kept and transferred that value when I changed to investing."

"Ken has been an incredible partner to the University of Arizona, and I am truly appreciative of his transformative generosity," said University of Arizona president Robert C. Robbins. "The College of Pharmacy has been at the forefront of drug discovery research and pharmaceutical education since its inception more than seventy years ago. Through Ken's inspirational gift, the college will have the resources to continue leading the way on these fronts."

(Photo credit: University of Arizona/Chris Richards)