RBC reiterates Medicis at outperform

Medicis Pharmaceutical Corp. was reiterated at outperform, above average risk, with a $34 price target by RBC Capital Markets analyst Ken Trbovich on news of IMS data for July. The company grew oral acne prescriptions by 36% in July compared to last month, and by 15% compared to July 2005. According to the analyst, this is particularly good news given that July is the weakest month of the year for prescription acne products. Medicis generated 10,800 prescriptions of Solodyne in July and 13,842 prescriptions of Dynacin for a combined total of 24,642 oral acne prescriptions. Shares of the Scottsdale, Ariz.-based specialty pharmaceutical company were up 18 cents, or 0.63%, at $28.92 on volume of 970,500 shares versus the three-month running average of 1,170,150 shares. (NYSE: MRX)

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