[Source: The Associated Press] – Medicis Pharmaceutical Corp. posted a third-quarter profit on Wednesday, as sales of its skin products surged, and a research and development charge came off the books.
Medicis said it earned $21.1 million, or 33 cents per share. A year ago, the company lost $14.7 million, or 26 cents per share, partly due to a $30.5 million charge to acquire ongoing research after it invested in biotech drugmaker Revance Therapeutics.
Revenue jumped 32 percent, to $151.8 million from $115.4 million, due to stronger sales of its acne drug Solodyn and launch of its wrinkle remover Dysport.
For more information: Acne, wrinkle treatments help Medicis post profit