Fortress Biotech, Inc..
FBIO.US | Manufacture of pharmaceuticals, medicinal chemical and botanical products
Fortress Biotech, Inc. is a biopharmaceutical company focused on acquiring, developing, and commercializing pharmaceutical and biotechnology products. They primarily operate through developing and commercializing novel pharmaceutical products and product candidates. The company focuses on a diverse ...Show More
Better Health for All
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Fortress Biotech's core business is focused on acquiring, developing, and commercializing pharmaceutical and biotechnology products for therapeutic areas such as oncology, dermatology, and rare diseases.
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This indicates that its entire business is devoted to health improvement, aligning with a significant positive health impact. The company has over 20 programs in development, which are inherently R&D activities aimed at improving health outcomes.
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Given that the company's sole purpose is the development of pharmaceutical products, it can be inferred that 100% of its R&D budget is allocated to health improvement.
Fair Money & Economic Opportunity
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Fortress Biotech, Inc. is a biopharmaceutical company focused on developing and commercializing pharmaceutical products.
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Its core business does not involve lending, deposit services, or other financial services to consumers.
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Consequently, KPIs related to customer financial services, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives, data accessibility, fair lending compliance, wealth building outcome, debt burden ratio, geographic inclusion, and product simplicity, are not applicable.
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While the company hosted a Women's Initiative Seminar that included financial literacy topics, this was an internal event for employees and partners, not a financial literacy program offered to external customers or the public by a financial services provider.
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The company reported a negative net income of -$5.34 million, indicating no profit available for community finance reinvestment.
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Fair Pay & Worker Respect
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No specific quantitative data was found across the provided articles to assess Fortress Biotech, Inc. against the KPIs for Fair Pay & Worker Respect. Information regarding living wage coverage, CEO to median employee pay ratio, collective bargaining share, safety incident rate, pay equity ratio, worker engagement score, turnover rate, labor violation incidents, insecure contract share, or health insurance coverage was not available in a quantifiable format that could be mapped to the rubric.
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While one article mentioned employee reviews indicating a positive work environment, it explicitly stated that specific quantitative scores for worker engagement were not provided, thus preventing a score for that KPI.
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Fair Trade & Ethical Sourcing
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No specific, quantifiable evidence was found in the provided articles regarding Fortress Biotech, Inc.'s fair trade certifications, supplier audit frequency, forced or child labor incidents in its supply chain, traceability coverage, remediation speed for supplier violations, ethical clauses in supplier contracts, materials risk index, or supplier diversity spend.
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The articles discuss internal corporate governance documents
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and FDA compliance for the company's own manufacturing sites,
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but do not provide concrete data points relevant to the specified KPIs for fair trade and ethical sourcing.
Honest & Fair Business
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No evidence available to assess Fortress Biotech, Inc. on Honest & Fair Business.
Kind to Animals
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No evidence available to assess Fortress Biotech, Inc. on Kind to Animals.
No War, No Weapons
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Fortress Biotech, Inc. is a biopharmaceutical company focused on developing pharmaceutical and biotechnology products.
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The provided articles, including financial reports and corporate governance documents, contain no evidence of the company being involved in arms manufacturing, military contracts, or dual-use technology. Specifically, there is no mention of revenue from defense contracts, R&D investment in dual-use technologies, or any defense-related business activities requiring board oversight or divestment.
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The company's core business, as described, does not involve weapons or military technology, and no exposure to controversial weapons is indicated.
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Planet-Friendly Business
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Fortress Biotech has not set science-based carbon reduction targets.
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The company achieved carbon neutrality for 2022 Scope 1, Scope 2, and select Scope 3 GHG emissions (business travel, employee commuting, and waste) by purchasing carbon removal credits, carbon avoidance credits, and Renewable Energy Certificates (RECs).
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It purchases high-quality removal credits for Scope 1 emissions, including from the Trees for Global Benefits (TGB) program in Uganda and the Communitree Carbon Program in Nicaragua, and N2O destruction credits from an adipic acid plant in Florida.
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The TGB project's independent verification is conducted by a third-party independent project engineer and environmental specialist, as is the nitrous oxide destruction project.
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The Communitree program sourced 30 million seeds and engaged 3,326 farmers in Nicaragua in 2022, planting an estimated 6 million trees across 4,700 hectares.
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The TGB program engages approximately 26,000 smallholder families across 73 communities, removing 3.8 million tCO2.
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These programs provide training and income opportunities to farmers.
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The company has not had any major environmental compliance violations.
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Respect for Cultures & Communities
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No specific, concrete evidence was found in the provided articles to assess Fortress Biotech, Inc. against any of the KPIs for 'Respect for Cultures & Communities'. The articles either focused on general industry trends, internal diversity initiatives not related to community engagement, or were financial data aggregators without relevant ESG information for the company.
Safe & Smart Tech
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Fortress Biotech experienced a data breach discovered on August 25, 2021, which exposed sensitive personal information including names, dates of birth, Social Security numbers, driver’s license numbers, and financial account information.
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The company changed the account password within approximately one hour of the first unauthorized login but did not begin sending data breach notification letters until around March 18, 2022, approximately seven months after discovery.
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The company offered 24 months of complimentary credit monitoring.
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Additionally, in 2021, its partner Journey Medical Corporation was the victim of a cybersecurity incident that resulted in approximately $9.5 million in misdirected wire transfers, of which $4.6 million was recovered by December 2024;
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this incident did not compromise personally identifiable information or protected health information.
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The company states it does not share personal information.
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Users can control their data by setting their browser to refuse cookies.
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The company has deployed managed detection and response services to monitor its technology infrastructure for threats.
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Employee training on confidentiality and data security is mentioned.
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The company collects broad demographic information and stores IP addresses as partial identifiers.
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Fortress Biotech is subject to various federal and state laws, including HIPAA, the Anti-Kickback Statute, and the False Claims Act.
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Zero Waste & Sustainable Products
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The provided articles, which are primarily financial reports (Form 10-K) and SEC filing lists, do not contain any specific, concrete data points or initiatives related to waste diversion rates, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design, waste reduction initiatives, hazardous waste management practices, product durability, repairability, waste audit frequency, zero waste certifications, waste disposal violations, material efficiency, packaging-to-product ratio, waste reduction targets, supplier waste requirements, or customer waste education programs.
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Therefore, no KPIs under the 'Zero Waste & Sustainable Products' value can be scored based on the evidence provided.