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Medicis rated 'Strong Sell' on weak dermatology sales

Analysts give US-based Medicis Pharmaceutical a "Strong Sell" rating after dermatology sales disappoint

Matrix Research analysts have given US-based Medicis Pharmaceutical a "Strong Sell" rating.

Analysts say that the company's dermatology sales had risen only four per cent over the eight-quarter period ended June 2007. With a 40 per cent rise in Medicis' capital over the period, the company's return on capital has declined significantly.

In August 2007, Swedish biotechnology company Q-Med said it was eyeing a merger with Medicis.

Q-Med's CEO, Bengt Agerup, who owns 47.5 per cent of the firm, said that a union with Medicis made "industrial sense". The company had partnered with Medicis on the marketing of the Swedish firm's cosmetic filler Restylane.

No concrete merger talks were ongoing at the time, but if the valuations of the company changed, talks might be initiated, added Agerup.

17th September 2007

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