Mark Davies Karvonen, MBA

Co-Founder, For Benefit Medicines (FBM)

Mark Davies 2010 Photo[1].jpg

Mark is an innovative and experienced project and alliance manager with 20 years’ experience in the pharmaceutical and Internet-of-Things (IoT) industries.

He has a degree in Information and Communication Technologies (ICT) and an executive MBA from IESE, a leading European business school.

Mark is passionate about finding new and better ways to meet customers' real needs and enabling people to achieve goals together.

The idea for FBM first emerged in 2008, when Mark and Barry Frost were both working for a large pharmaceutical company. They were brainstorming ideas while sitting in a restaurant at Macquarie Park. Barry had always supported patient groups and worthwhile patient projects. He was sharing his disappointment that when his products were off patent, he would need to reduce this patient support, due to a lack of funds. Mark recalls Barry took a few minutes to reflect, citing "Just imagine a drug brand where profits generated could be channeled to support patient causes. Patients and doctors could then ensure the sustainability of patient projects." The idea for ‘For Benefit Medicines’ (FBM) was born.

Interestingly, the profit sharing-idea was not new, for it had already been trialled successfully by a few socially pioneering companies. Howeverit was a very innovative initiative for the highly regulated pharmaceutical industry.

Mark co-founded FBM with Barry and John Hurley, and later Jackson Su, to provide a mechanism for people to help one another and channel profits back into the community.