Journey Medical Corporation Enters into a Definitive Agreement with Dermira, Inc., a Wholly-Owned Subsidiary of Eli Lilly and Company, to Acquire QBREXZA The first and only prescription cloth towelette approved to treat

Journey Medical Corporation Enters into a Definitive

Agreement with Dermira, Inc., a Wholly-Owned Subsidiary of Eli Lilly and Company, to Acquire QBREXZA

The first and only prescription cloth towelette

approved to treat primary axillary hyperhidrosis in people nine-years of age and older is Journey Medical's seventh marketed dermatology

Scottsdale, AZ and New York, NY - April

1, 2021 - Journey Medical Corporation ("Journey Medical"), a partner company of Fortress Biotech, Inc. (NASDAQ:

FBIO) ("Fortress"), today announced that it has entered into a definitive agreement to acquire QBREXZA (glycopyrronium) in

the U.S. from Dermira, Inc., a wholly-owned subsidiary of Eli Lilly and Company.

The transaction is expected to close early in

the second quarter of this year. QBREXZA generated $24 million in net sales in the U.S. in 2020.

QBREXZA is the only topical product to be approved

by the U.S. Food and Drug Administration (FDA) for treatment of primary axillary hyperhidrosis in adult and pediatric populations (ages

nine-years and older) and is self-administered by patients. Additionally, QBREXZA is noted as a first-line treatment therapy for primary

axillary hyperhidrosis by the International Hyperhidrosis Society (IHHS).

Claude Maraoui, President and Chief Executive

Officer of Journey Medical, stated, "We are thrilled to expand our footprint in dermatology with the addition of QBREXZA to our

growing portfolio of prescription dermatology brands. Acquiring QBREXZA will allow us to provide an accessible and convenient product

to the millions of Americans who seek relief from excessive underarm sweating, many of whom remain undiagnosed and untreated."

In two key pivotal trials within adult and pediatric

patients with primary axillary hyperhidrosis, use of QBREXZA resulted in clinically meaningful improvements in gravimetrically measured

sweat production and disease severity, as measured by the Axillary Sweating Daily Diary, which was a validated, disease-specific patient-reported

outcome developed in consultation with the FDA. The safety and efficacy of QBREXZA have been established in clinical trials with treatment

Hyperhidrosis is a condition of sweating beyond

what is physiologically required for normal thermal regulation and affects an estimated 4.8% of the U.S. population, or approximately

15 million people.1 Of these, 65 percent, or nearly 10 million people, suffer from sweating localized to the underarms

(axillary disease). Studies have demonstrated that excessive sweating often impedes normal daily activities and can also result in occupational,

emotional, psychological, social and physical impairment.1,2

Lindsay A. Rosenwald, M.D., Chairman, President

and Chief Executive Officer of Fortress, added, "The acquisition of QBREXZA marks continued progress for our partner company, Journey

Medical, and demonstrates the success of Fortress' unique business model, which is designed to acquire and rapidly advance potentially

transformative products and product candidates to patients."

For additional information about QBREXZA, please

visit https://www.QBREXZA.com/.

About QBREXZA (glycopyrronium) cloth

QBREXZA (pronounced kew brex' zah) is an anticholinergic indicated for topical treatment of primary axillary hyperhidrosis in adult

and pediatric patients, nine years of age and older. QBREXZA is applied directly to the skin and is designed to block sweat production

by inhibiting sweat gland activation. For more information visit www.QBREXZA.com.

Important Safety Information

Contraindications: QBREXZA is contraindicated in patients with medical conditions that can be exacerbated by the anticholinergic

effect of QBREXZA (e.g., glaucoma, paralytic ileus, unstable cardiovascular status in acute hemorrhage, severe ulcerative colitis, toxic

megacolon complicating ulcerative colitis, myasthenia gravis, Sjogren's syndrome).

Warnings and Precautions

Worsening of Urinary Retention: QBREXZA

should be used with caution in patients with a history or presence of documented urinary retention. Prescribers and patients should be

alert for signs and symptoms of urinary retention (e.g., difficulty passing urine, distended bladder), especially in patients with prostatic

hypertrophy or bladder-neck obstruction. Instruct patients to discontinue use immediately and consult a physician should any of these

signs or symptoms develop. Patients with a history of urinary retention were not included in the clinical studies.

Control of Body Temperature: In the

presence of high ambient temperature, heat illness (hyperpyrexia and heat stroke due to decreased sweating) can occur with the use of

anticholinergic drugs such as QBREXZA. Advise patients using QBREXZA to watch for generalized lack of sweating when in hot or very warm

environmental temperatures and to avoid use if not sweating under these conditions.

Operating Machinery or an Automobile: Transient

blurred vision may occur with use of QBREXZA. If blurred vision occurs, the patient should discontinue use until symptoms resolve. Patients

should be warned not to engage in activities that require clear vision such as operating a motor vehicle or other machinery or performing

hazardous work until the symptoms have resolved.

The most common adverse reactions seen in 2%

of subjects treated with QBREXZA were dry mouth (24.2%), mydriasis (6.8%), oropharyngeal pain (5.7%), headache (5.0%), urinary hesitation

(3.5%), vision blurred (3.5%), nasal dryness (2.6%), dry throat (2.6%), dry eye (2.4%), dry skin (2.2%) and constipation (2.0%). Local

skin reactions, including erythema (17.0%), burning/stinging (14.1%) and pruritus (8.1%) were also common.

Anticholinergics: Coadministration

of QBREXZA with anticholinergic medications may result in additive interaction leading to an increase in anticholinergic adverse effects.

Avoid coadministration of QBREXZA with other anticholinergic-containing drugs.

Instructions for Administering QBREXZA

Instruct patients to use one cloth to apply QBREXZA

to both axillae by wiping the cloth across one underarm, ONE TIME. Using the same cloth, apply the medication to the other underarm, ONE

Inform patients that QBREXZA can cause temporary

dilation of the pupils and blurred vision if it comes in contact with the eyes.

Instruct patients to wash their hands with soap

and water immediately after discarding the used cloth.

Use in Specific Populations

Pregnancy: There are no available data

on QBREXZA use in pregnant women to inform a drug-associated risk for adverse developmental outcomes.

Lactation: There are no data on the

presence of glycopyrrolate or its metabolites in human milk, the effects on the breastfed infant, or the effects on milk production. The

developmental and health benefits of breastfeeding should be considered along with the mother's clinical need for QBREXZA and any

potential adverse effects on the breastfed infant from QBREXZA or from the underlying maternal condition.

Renal Impairment: The elimination

of glycopyrronium is severely impaired in patients with renal failure.

Please see Full Prescribing Information

About Journey Medical Corporation

Journey Medical Corporation ("Journey Medical")

is focused on identifying, acquiring and strategically commercializing innovative, differentiated dermatology products through its efficient

sales and marketing model. The company currently markets seven products that help treat and heal common skin conditions. The Journey Medical

team is comprised of industry experts with extensive experience commercializing some of the most successful prescription dermatology brands.

Journey Medical is located in Scottsdale, Arizona and is a partner company of Fortress Biotech, Inc. (NASDAQ:FBIO). For additional information

about Journey Medical, visit www.journeymedicalcorp.com.

About Fortress Biotech

Fortress Biotech, Inc. ("Fortress")

is an innovative biopharmaceutical company that was ranked in Deloitte's 2019 and 2020 Technology Fast 500 , annual rankings

of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based

on percentages of fiscal year revenue growth over three-year periods. Fortress is focused on acquiring, developing and commercializing

high-potential marketed and development-stage pharmaceutical products and product candidates. The company has seven marketed prescription

pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at

partners it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas,

including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified

pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class

business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company's

portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions

and biopharmaceutical companies to maximize each opportunity to its full potential, including Alexion Pharmaceuticals, Inc., AstraZeneca,

City of Hope, Fred Hutchinson Cancer Research Center, St. Jude Children's Research Hospital and Nationwide Children's Hospital.