Medicis Announces Close of Graceway Pharmaceuticals, LLC Acquisition

SCOTTSDALE, Ariz., Dec. 2, 2011 (GLOBE NEWSWIRE) -- Medicis (NYSE:MRX) today announced that it has completed its acquisition of substantially all of the assets of Graceway Pharmaceuticals, LLC (Graceway), following approval by Graceway's board of directors, clearance under the Hart-Scott-Rodino Act and final approval by the U.S. bankruptcy court overseeing Graceway's Chapter 11 case and the Canadian court overseeing the receivership of Graceway's Canadian subsidiary. Medicis announced on November 18, 2011, that the Company was the successful bidder at a bankruptcy auction conducted by Graceway for substantially all of the outstanding U.S. and Canadian pharmaceutical assets of Graceway. Graceway filed for Chapter 11 bankruptcy protection on September 29, 2011.

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