Deutsche Bank Securities Reiterates its BUY Rating on Medicis Pharmaceuticals

October 29 00:00 2011

NEW YORK, October 29 (RainbowNewsLine.com) – Analyst David Steinberg of Deutsche Bank Securities reiterates his BUY rating on the shares of Medicis Pharmaceuticals (NYSE: MRX). The 12-month target price is set to $40.

In a research note published on October 27, analyst David Steinberg of Deutsche Bank Securities highlights some points from the investors meeting with Medicis management. The meeting’s agenda was to gather points regarding the dynamics that are affecting the company’s operations and opportunities that can guide the company’s long-term outlook. MRX will provide new programs to its flagship Solodyn franchise, in order to reduce physician’s hassles with paperwork or prior authorization and to improve patient refill rates, the analyst says.

Despite the recent macro environment difficulties, Medicis Pharmaceuticals reported that its medical aesthetic business remained strong in Q3. The company reaffirms that its Restylane franchise achieved the leading position in cosmetic dermal filler market despite of strong competition from Allergan’s Juvederm, the analyst says. As the overall market for cosmetic neurotoxin matures, Dysport will continue to outperform the market, the management believes. The analyst believes that Dysport is gaining share against Botox, which is partly because of its new promotional campaign “Think outside the bo**x”.

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