Fortress Biotech Ranked in Deloitte’s Technology Fast 500™ for the Second Year in a Row
November 18, 2020 at 08:00 AM EST
NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), an innovative revenue-generating company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, today announced that it ranked number 135 in Deloitte’s 2020 Technology Fast 500™, an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors. Fortress’ 874 percent revenue growth based on the increase in net product sales from 2016 to 2019 secured its spot in the rankings.
“We are thrilled to be recognized among an elite group of 500 companies in Deloitte’s Technology Fast 500™ for the second year in a row. We are proud of our rapid revenue growth, as generating value for our shareholders is always a top priority,” said Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer. “Our business strategy allows us to acquire and develop a broad array of new marketed products and product candidates with significant commercial and clinical potential. Through our approach, we have established a growing portfolio of five marketed products and over 25 development-stage programs that we believe will provide our company and its shareholders with a diversified long-term revenue stream.”
Now in its 26th year, the Technology Fast 500 selects companies based on percentage fiscal year revenue growth over a three-year period. Overall, the 2020 Technology Fast 500 companies achieved revenue growth ranging from 175 percent to 106,508 percent from 2016 to 2019, with a median growth rate of 450 percent. For more information about the Technology Fast 500, visit www.fast500.com.
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