|Fate||Acquired (December, 2012)|
|Headquarters||Bridgewater, New Jersey, USA|
Medicis Pharmaceutical was a medical cosmetics company founded in 1988 with headquarters in Scottsdale, Arizona. It was acquired by Valeant Pharmaceuticals in 2012 and in 2013, the company moved its headquarters to Bridgewater, New Jersey. Among their products are Solodyn and Ziana for treating acne, and Restylane and Dysport for treating facial wrinkles.
In December 1997, Medicis acquired GenDerm Corporation, a dermatology pharmaceuticals company, for $60M in cash. Medicis also acquired Ucyclyd Pharma, a Baltimore-based private company, for $23.4 million in cash in April 1999. Ucyclyd's main product was Buphenyl (sodium phenylbutyrate), used for treating urea cycle disorders. In 2005, they rejected a $2.2 billion unsolicited takeover proposal by Mentor.
In September 2011, the company sold its rights to the LipoSonix system to Solta Medical, for $35 million. LipoSonix is an ultrasound device intended to help destroy fat deposits in the vicinity of the stomach, referred to as "belly fat".
In 2011 Medicis had $721 million in revenue and had a gross profit margin of roughly 90.7 percent.
In September 2012 Canadian based Valeant Pharmaceuticals and Medicis' management agreed that Valeant would acquire Medicis for 2.6 billion dollars, or $44/share, 39 percent more than the stock’s Aug. 31 closing price. The deal was subject to shareholder and regulatory approvals. It was the 11th acquisition for Valeant that year and was expected to close the next summer. The transaction was completed in December 2012, with Medicis delisting and becoming a subsidiary of Valeant, and the board of directors disbanded. Later in December Valeant dismissed 319 of Medicis' employees and retained 117. Shaknai left the company at the acquisition and Medicis’ executive vice president and COO, became the executive vice president and company group chairman of Valeant to run the subsidiary.
- Medicis 2011 Annual Report
- Alltucker, Ken (30 July 2013). "Medicis headquarters moving to New Jersey". AZ Central. Retrieved 26 November 2015.
- Kelsey Kaustinen (2012-09-05). "Valeant nabs Medicis for $2.6 billion". Drug Discovery News. Retrieved 2012-10-14.
- Angela Gonzales for the Phoenix Business Journal. Dec 11, 2012 Valeant, Medicis complete merger with Shacknai out
- Staff. People Nature Biotechnology 24, 366 (2006) doi:10.1038/nbt0306-366
- Staff, The Pharma Letter. Dec 10, 1997 Medicis Completes GenDerm Acquisition
- "Medicis Pharmaceutical Corporation Announces Acquisition of Ucyclyd Pharma Inc.", Gale HealthWire, 1999-04-19, retrieved 2011-09-17
- Feder, Barnaby J. (2005-11-22). "Mentor Leaves Options Open on Its Bid for Medicis". The New York Times. Retrieved 2011-09-09.
- "Medicis agrees to sell LipoSonix system to Solta", Business Week, 2011-09-13, archived from the original on November 2, 2012
- Loftus, Peter (2011-09-02), "Health industry: Death Of Medicis CEO's Girlfriend Ruled a Suicide", The Wall Street Journal, retrieved 2011-09-09
- Bloomberg News via The New York Times. Sept 3, 2012. Valeant to Buy Medicis, Maker of Dermatology Drugs
- Mark Scott for The New York Times. Sept 4, 2012. Valeant Sticks to Torrid Pace of Deal-Making
- Angela Gonzales for the Phoenix Business Journal. Dec 18, 2012 How many Medicis employees lost their jobs in Valeant buy? A lot