Stock Symbol: MRX

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Business Description
Medicis Pharmaceutical Corporation (Medicis) is an independent specialty pharmaceutical company focusing primarily on helping patients attain a healthy and youthful appearance and self-image through the development and marketing of products in the United States for the treatment of dermatologic, aesthetic and podiatric conditions in the United States and Canada. The Company offers a broad range of products addressing various conditions, including acne, fungal infections, rosacea, hyperpigmentation, photoaging, psoriasis, eczema, skin and skin-structure infections, seborrheic dermatitis and cosmesis (improvement in the texture and appearance of skin). Medicis offers 13 branded products, including DYNACIN, LOPROX, OMNICEF, PLEXION, RESTYLANE and TRIAZ. During the fiscal year ended June 30, 2004 (fiscal 2004), core brands, including ORAPRED, accounted for approximately 87% of its total net revenues.

Financial Information
For the three months ended 9/30/04, net sales increased 40% to $88.8 million. Net income totaled $1 million vs. a loss of $27.2 million. Revenues reflect higher sales of BUPHENYL, LOPROX, OMNICEF and TRIAZ products. Net income reflects the absence of a $58.7 million loss on the early extinguishment of debt.