Robertson Stephens Reiterates Strong Buy Rating on MRX.

SAN FRANCISCO--(BUSINESS WIRE)--Nov. 18, 1999--

Robertson Stephens Managing Director and Senior Emerging Pharmaceuticals Analyst Donald B. Ellis today reiterated his Strong Buy rating on Medicis Pharmaceutical Company (NYSE:MRX). Medicis, headquartered in Phoenix, Ariz., is an emerging-niche-pharmaceutical company that markets a line of prescription and nonprescription pharmaceuticals in the dermatology market.

"We are reiterating our Strong Buy rating and 12-month price target of $47 on Medicis, following the release of IMS prescription-sales data" said Ellis.

"Prescriptions of Dynacin (up 30 percent), Triaz (up 5 percent) and Lustra (up 63 percent) continue to drive organic growth," said Ellis. "In addition, Ovide, which was launched in July 1999 showed strong sequential growth of 30 percent."

"We estimate that Medicis trades at a price-to-earnings-to-growth multiple of 0.6, versus 1.0 for an index of specialty pharma companies, which we believe represents a tremendous buying opportunity."

Clients interested in receiving more information should contact their salesperson at [phone].

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