Fortress Biotech is one of the most successful biopharmaceutical companies in the world. The company’s stock, FBIO, saw impressive growth of 7.5% near the end of 2019. Recent stock purchases made by the company’s owner reflect its ever-growing success. In 2020, Lindsay Rosenwald, the head of the company, was able to buy 100 000 shares of stock in Checkpoint Therapeutics. This biopharmaceutical company is focused on finding treatment for solid tumor cancers.
His biggest success – achieved with Cougar Biotechnology – could be described as life-changing for millions of people. In the mid-1980s, the doctor was a physician in private practice when he approached Wall Street as an entrepreneur and private investor. Since then, he played a hand in founding many successful biotech companies.
Cougar Biotechnology
The most well-known example of doctor Lindsay Rosenwald’s success is seen in his work with Cougar Biotechnology. He was involved in the company’s early stages of developing a prostate cancer drug, Zytiga. In 2011, the drug received FDA approval and today, it is the biggest-selling of its kind. American multinational corporation Johnson & Johnson had seen the potential and bought the company for a whopping $1 billion. This buying price represented a 16% premium to the company’s market value (at that time).
It has been noted that Fortress Biotech has a unique business model that differs from traditional biotech. According to Lindsay Rosenwald, that is because he found that the life sciences industry is inefficient. So, he adapted and took an approach to matters that was not generic.
He noticed that billions are spent on development and research every year. However, science is moving forward so quickly that developers can’t keep up. There is no way to develop every single promising drug.
To address this problem, his company identifies potential drug candidates and then in-licenses their brand. This means the doctor’s company was given permission to use intellectual property related to the drug. After this, partner companies with the right knowledge is used to further develop the drug. This leads to drugs reaching as many patients as fast and effectively as possible.
Ongoing success
The company currently has more than 25 such drug candidates of which 16 are already in clinical trials. Of these, 5 are dermatology products that are generating revenue.
The doctor and his team are interested in finding new drug candidates from all over the world. They do not pay attention to only one type of candidate. If they find something that meets their criteria, they will move ahead and in-licence it. The criteria are quality of data, meeting a need, whether there’s a market for it and how it is manufactured.
The doctor’s team consists of about 12 people, most of them being MDs or PhDs. He personally trained them to find promising drug candidates from all over the world. In addition, Lindsay Rosenwald and his team have strong relationships with global research institutions. This includes the Fred Hutchinson Cancer Research Center and the St. Jude Children’s Research Hospital.
The respected doctor’s company is growing stronger every day. FBIO stock’s market cap is at $132.36 million. This is an impressive number which reflects the success of the past years. Most recently, FBIO stock has risen by 1.87%, taking stock value up to $2.18. With a potential upside of 322.0%, it is likely that this trend will continue and the company will grow in worth.
Things started to look even better for FBIO when it came to light that there is a partnership in the works. The biotech company and Cincinnati Children’s Hospital Medical Center, along with AstraZeneca, are working to develop BAER-101. The aim is to work on clinical trials to find possible cures for central nervous system disorders. AstraZeneca is a British-Swedish multinational pharmaceutical and biopharmaceutical company that researches products for major diseases such as cancer.
With all things considered, it is easy to see why Doctor Lindsay Rosenwald has been so successful and looked up to. With every new venture, he is trying to make the world a better place.