Medicis Pharmaceutical 10-K/A 2007 FY Annual report (amended)

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

										Six Months Ended						Years Ended
	Fiscal Years Ended June 30,									December 31,						December 31,
	2003			2004			2005			2004			2005			2006			2007
	(Restated)			(Restated)			(Restated)			(Restated)			(Restated)			(Restated)			(Restated)
EARNINGS:
Income (loss) before income tax expense	$	39,919		$	57,057		$	89,425		$	29,944		$	81,617		$	(72,722	)	$	118,980
Add: Fixed charges		14,375			13,161			12,993			6,454			6,547			13,026			12,856
Earnings as defined	$	54,294		$	70,218		$	102,418		$	36,398		$	88,164		$	(59,696	)	$	131,836
FIXED CHARGES:
Interest expense	$	10,038		$	8,663		$	8,488		$	4,244		$	4,253		$	8,488		$	8,495
Amortization of deferred financing fees		2,542			2,145			2,152			1,080			1,080			2,168			1,523
Interest expense as reported		12,580			10,808			10,640			5,324			5,333			10,640			10,018
Portion of rent expense as interest		1,795			2,353			2,353			1,129			1,214			2,386			2,838
Fixed charges as defined	$	14,375		$	13,161		$	12,993		$	6,453		$	6,547		$	13,026		$	12,856
Ratio of earnings to fixed charges		3.8	x		5.3	x		7.9	x		5.6	x		13.5	x		(4.6	)x		10.3	x

     For purposes of computing the ratios of earnings to fixed charges, earnings represent pretax income from continuing operations plus fixed charges. Fixed charges represent interest expense and the portion of rents representative of interest related to continuing operations.

     The Company has restated its consolidated financial statements included in this Form 10-K/A related to an error in its interpretation and application of SFAS 48, as it relates to a component of its sales return reserve calculations. The restated consolidated financial statements include other adjustments, including adjustments related to conforming the Company’s historical accounting policies to current accounting policies, that were previously identified, but not previously recorded, as they were deemed not to be material, either individually or in the aggregate. While none of these other adjustments is individually material, they are being made as part of the restatement process. These other adjustments have been made in the period in which they were identified.

     The restatement adjustments have been reflected in the above restated computation of ratio of earnings to fixed charges for the periods presented.

     Note 2 to the Company’s restated consolidated financial statements details the impact of the restatement adjustments on its consolidated financial statements.