Bank of America Merrill Lynch Comments on Medicis Pharmaceutical

Bank of America Merrill Lynch provided color on Medicis Pharmaceutical

after the company provided an update on Solodyn contracting strategy progress. Bank of America Merrill Lynch has a Neutral rating and $38 price objective on Medicis Pharmaceutical. In the report, Bank of America states, "We are sticking with our Neutral rating given product concentration and limited pipeline visibility, but continue to see the potential for upside in the near term if Solodyn share remains unscathed by legacy generics and the early 2012 launch of Zyclara goes well." Shares of Medicis Pharmaceutical closed today at $33.35, down 1.21% from Tuesday's market close.