Mission Statement, Vision, & Core Values (2024) of Fortress Biotech, Inc. (FBIO)

An Overview of Fortress Biotech, Inc. (FBIO)

General Summary of Fortress Biotech, Inc.

Fortress Biotech, Inc. (FBIO) was established in 2016 and has since evolved into a prominent biopharmaceutical company focusing on the development and commercialization of innovative therapies. The company operates through a diversified portfolio of subsidiaries, each dedicated to specific therapeutic areas including dermatology, oncology, and rare diseases.

As of 2024, Fortress Biotech has a range of products including:

• Qbrexza (glycopyrrolate) - a prescription medicine for the treatment of hyperhidrosis.
• Zelapar (selegiline) - for Parkinson's disease.
• BioPharma's development programs targeting various rare and chronic diseases.

Current sales for Fortress Biotech are reported to be approximately $150 million in 2024, driven primarily by the sales of Qbrexza and other product offerings.

Company's Financial Performance

In its latest financial report for Q4 2023, Fortress Biotech reported record-breaking revenue of $180 million, marking a significant increase from the previous year’s $120 million. The growth was largely attributed to the robust sales of Qbrexza, which alone generated $92 million in revenue.

The following table outlines the key financial metrics for Fortress Biotech from the latest reporting period:

Fortress Biotech's expansion into new markets has also contributed to its financial success, with an increase in its market share in both domestic and international regions.

Introduction to Fortress Biotech as an Industry Leader

Fortress Biotech has positioned itself as one of the leading companies in the biopharmaceutical industry by leveraging its innovative portfolio and strategic partnerships. The company has made significant strides in advancing its products through clinical trials and obtaining necessary regulatory approvals.

With a commitment to addressing unmet medical needs, Fortress Biotech is at the forefront of developing treatments that extend beyond conventional methods. Its leadership in specialized therapeutics has made it a formidable competitor in the marketplace.

For more insights into Fortress Biotech and the strategies that underpin its success, readers are encouraged to explore further resources available below.

Mission Statement of Fortress Biotech, Inc. (FBIO)

Mission Statement Overview

The mission statement of Fortress Biotech, Inc. (FBIO) articulates the company's purpose and serves as a guiding principle for its strategic direction. It plays a crucial role in shaping the organization's operational goals, product development strategies, and overall commitment to stakeholder interests.

Core Component 1: Innovation

Fortress Biotech emphasizes innovation as a fundamental aspect of its mission statement. The company is dedicated to the discovery and development of novel therapies for patients with unmet medical needs.

As of 2023, Fortress Biotech has a pipeline that includes over 20 product candidates, focusing on areas such as oncology and rare diseases. For instance, the company’s lead candidate, FT-7051, is currently in clinical trials and aims to address specific genetic mutations prevalent in certain cancers.

According to industry reports, the global oncology drug market was valued at approximately $136.9 billion in 2021 and is projected to reach $248.4 billion by 2023, highlighting the significant opportunity for innovation in this field.

Core Component 2: Patient-Centric Approach

Another vital component of Fortress Biotech's mission is its patient-centric approach. The company strives to prioritize patient needs in all aspects of its operations.

In 2022, Fortress Biotech conducted a survey revealing that over 85% of patients expressed a strong desire for more personalized treatment options, reinforcing the company's commitment to tailoring therapies that align with individual patient profiles.

Additionally, Fortress Biotech has established partnerships with various patient advocacy organizations, allocating around $2 million annually to support patient education and awareness initiatives.

Core Component 3: Commitment to Quality

Fortress Biotech's mission statement also underscores a commitment to quality in the development of its therapeutic products. The company adheres to the highest standards of quality assurance and regulatory compliance.

In 2023, Fortress Biotech achieved a 99% compliance rate in its FDA inspections, emphasizing its dedication to maintaining rigorous quality control processes throughout its manufacturing and clinical trial operations.

The company invests approximately $3 million annually in improving its quality management systems, ensuring that all products meet stringent safety and efficacy standards before reaching the market.

Vision Statement of Fortress Biotech, Inc. (FBIO)

Vision Statement Overview

The vision statement of Fortress Biotech, Inc. (FBIO) for 2024 emphasizes the commitment to advancing innovative therapies and addressing unmet medical needs. The company aims to transform patient care through the development of proprietary biotechnology products.

Commitment to Innovation

Fortress Biotech envisions a future where innovation drives the advancement of healthcare solutions. The company is focusing on developing products in areas such as oncology and rare diseases, aligning their strategies with the broader trends in the biotechnology industry.

As of 2024, Fortress Biotech has invested over $50 million in research and development. This investment underscores their commitment to leading in innovative medical solutions.

Focus on Unmet Medical Needs

Addressing unmet medical needs is central to Fortress Biotech's vision. The company aims to ensure that patients suffering from rare and challenging diseases have access to effective treatments. As of late 2023, it was reported that approximately 25 million people in the U.S. alone live with rare diseases, highlighting the market opportunity for innovative therapeutics.

Collaboration and Strategic Partnerships

Fortress Biotech is dedicated to fostering strategic partnerships to enhance its research capabilities and product offerings. The company has established collaborations with various pharmaceutical firms, which have resulted in a pipeline of novel therapies. In 2023, Fortress formed a strategic partnership with a leading pharmaceutical company, aiming to co-develop treatments that target specific oncological conditions. This collaboration is anticipated to yield revenues exceeding $100 million over the next five years.

Global Market Expansion

The company's vision includes a robust strategy for global market expansion. Fortress Biotech plans to leverage its innovative product pipeline to penetrate international markets effectively. In 2023, the global biotechnology market was valued at approximately $750 billion and is expected to grow at a CAGR of around 15% from 2024 to 2030. Fortress is strategically positioned to capitalize on this growth through its targeted therapies.

Table: Fortress Biotech's Financial Overview (2024)

Patient-Centric Approach

Fortress Biotech's vision also places a strong emphasis on a patient-centric approach. The company is committed to ensuring that patient feedback and needs guide its research and development efforts. In 2023, surveys indicated that over 80% of patients with rare diseases expressed a desire for more treatment options, showcasing the significance of patient input in guiding clinical development.

Sustainability and Ethical Practices

Finally, Fortress Biotech highlights sustainability and ethical practices as vital components of its vision. The company aims to conduct its operations responsibly while minimizing its environmental footprint. In 2023, Fortress Biotech reported that it has reduced its carbon emissions by 30% compared to previous years, reflecting its commitment to sustainability.

Core Values of Fortress Biotech, Inc. (FBIO)

Integrity

The core value of integrity at Fortress Biotech, Inc. emphasizes the importance of ethical practices and transparency in all business dealings.

In 2023, Fortress Biotech reported a **net loss of $19 million** with total revenues of **$30.3 million**, reflecting its dedication to maintaining transparency with stakeholders.

• Fortress Biotech adheres to strict compliance with the **Securities Exchange Act**, ensuring accurate financial disclosures.
• The company has established an **Ethics & Compliance Program**, which includes annual training for all employees and third-party vendors to foster an ethical culture.

Innovation

Innovation at Fortress Biotech drives its commitment to developing cutting-edge therapies for unmet medical needs.

In 2024, Fortress Biotech's R&D expenditures reached **$12 million**, supporting various clinical trials for its proprietary drugs.

• The launch of **Pradefovir**, a novel treatment for Hepatitis B, initiated Phase 2 trials, attracting a *$5 million* investment from strategic partners.
• Fortress Biotech established collaborations with leading research institutions, enhancing its pipeline of **over 12 investigational drugs**.

Collaboration

Collaboration is vital for Fortress Biotech as it seeks partnerships that enhance its capabilities and broaden its impact.

In its last fiscal year, Fortress Biotech engaged in **seven new collaborations**, valued at approximately **$25 million** to jointly develop therapies.

• Partnerships with **Harvard Medical School** and **Stanford University** have resulted in significant advancements in their drug development programs.
• Fortress Biotech's collaboration with various **biotech firms** has led to increased access to innovative technologies and resources.

Accountability

Accountability reflects Fortress Biotech's commitment to responsible actions and ownership of results.

In 2024, Fortress Biotech improved its operational efficiency, reducing overhead costs by **15%** while maintaining service quality.

• The company holds quarterly reviews to assess performance against financial metrics, ensuring stakeholders are informed of progress towards goals.
• Fortress Biotech has implemented a **360-degree feedback** system, allowing employees to voice opinions on management effectiveness and company policies.

Compassion

Compassion underpins Fortress Biotech’s commitment to patients and the communities it serves.

As of 2024, Fortress Biotech has contributed over **$1 million** annually to patient assistance programs supporting those with difficult-to-treat conditions.

• In 2023, Fortress Biotech launched the **“Compassionate Access Program,”** enabling patients to access treatments not yet commercially available.
• Fortress Biotech also partners with various non-profit organizations, engaging in outreach programs that provide education and resources to underserved communities.