RBC reiterates Medicis at outperform

Medicis Pharmaceutical Corp. was reiterated at outperform, above average risk, and kept at its $34 price target by RBC Capital Markets analyst Ken Trbovich on news that Solodyn prescriptions now support annualized sales of $104 million. According to IMS data, 5,534 Solodyn prescriptions were written for the week ended Aug. 11, an increase of 12% from the prior week. Oral acne prescriptions continue on pace above RBC's estimates. Medicis' acne franchise is up 56% from the comparable week last year. The analyst believes peak potential for Solodyn is between $175 million and $250 million in annual gross sales. Shares of the Scottsdale, Ariz.-based specialty pharmaceutical company were down 56 cents, or 1.93%, at $28.49, on volume of 435,400 shares versus the three-month running average of 1,171,840 shares. (NYSE: MRX)

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