E Exclusive Interview With Lindsay Rosenwald, CEO Of Fortress Biotech 

I recently had the opportunity to interview Lindsay A. Rosenwald, CEO of Fortress Biotech, Inc. (FBIO), an innovative biopharmaceutical company focused on identifying, in-licensing and developing high-potential marketed drugs and development-stage drug candidates. Our discussion follows...
 

Terry Chrisomalis: You became a first time CEO at Fortress Biotech in December of 2013. What were your professional experiences in the preceding years/decades that allowed you to assume that role? Could you share some of the drugs that you found previously that were success stories?
Lindsay Rosenwald: I was a physician in private practice until the mid-1980s, when I went to Wall Street as a private investor and entrepreneur. I’m proud to have founded a number of biotech companies since the 1990s. One of the best-known is Cougar Biotechnology. Johnson and Johnson (JNJ) acquired it for approximately $1 billion on the strength of Zytiga, which is now the biggest selling prostate cancer drug in the world.

Two other drugs I’ve developed are the Parkinson’s drug Northera, which was sold to Lundbeck (HLUYY) for about $600 million, and Trisenox for acute promyelocytic leukemia, which was incurable before Trisenox came on the market.

There have been 12 drugs on which I’ve worked, which received FDA approval. One of the drugs I helped develop has been keeping a close family member alive for four or five years now. Sometimes when you do good things, it comes back to you.
 

Terry Chrisomalis: Fortress Biotech has an incredibly unique business model, very different from a traditional pure play biotech. How and why did you come up with this model? What are some market inefficiencies that led you to pursue this model?
Lindsay Rosenwald: As a private investor, I discovered that the life sciences industry is a very inefficient market. I ran the numbers a few years ago and estimated that about $300 to $400 billion is spent around the world on research and development every year. By itself, that’s great news. The inefficiency lies in the fact that the science is advancing so rapidly that drug developers can’t develop every promising drug candidate, and the drug candidates are only getting better as the years go on.

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Disclosure: This article is part of a new “UnderCovered” series of exclusive articles featuring companies with limited coverage. Authors are compensated by TalkMarkets for their time, and ...

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Kurt Benson 1 month ago Member's comment

Good article Lindsay A. Rosenwald. Sounds like $FBIO is on the right track. But how might the growing threat of the coronavirus impact your company?

Mike Nolan 4 weeks ago Member's comment

I'm wondering this as well.

Backyard Hiker 1 month ago Member's comment

Never heard of this company before but I like their business model.

Wall St. Wolf 1 month ago Member's comment

I've liked $FBIO for a while now.

Edward Simon 1 month ago Member's comment

Who are Fortress Biotech's competitor's in the market (for clinical-trial stage companies)?

Adam Reynolds 1 month ago Member's comment

$FBIO sounds like a pretty innovative company.