Medicis Closes License of ORAPRED to BioMarin with Option to Purchase

     Business Editors/Health/Medical Writers

     SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 18, 2004--Medicis (NYSE:MRX) today
announced it has closed its previously announced asset purchase agreement and
license agreement, and signed a securities purchase agreement with BioMarin
Pharmaceutical Inc. ("BioMarin") (Nasdaq and SWX: BMRN).

     The asset purchase agreement involves BioMarin's purchase of assets related
to ORAPRED(R), including assets concerning the Ascent Pediatrics field sales
force. The license agreement grants BioMarin the exclusive worldwide rights to
ORAPRED(R) (prednisolone sodium phosphate), including proprietary taste-masking
technologies and related development technologies. ORAPRED(R), which utilizes a
proprietary taste-masking system, is the leading branded liquid corticosteroid
for the treatment of pediatric asthma. The securities purchase agreement grants
BioMarin the option to purchase all outstanding shares of common stock of Ascent
Pediatrics, Inc. based on certain conditions. ORAPRED(R) and related pediatric
intellectual property is owned by Ascent Pediatrics, Inc., a wholly owned
subsidiary of Medicis.

     BioMarin will make license payments to Ascent of approximately $93 million
payable over a five-year period as follows: $10 million has been received at the
close; approximately $12.5 million per quarter for four quarters beginning in
July 2004; approximately $2.5 million per quarter for the subsequent four
quarters beginning in July 2005; approximately $2 million per quarter for the
subsequent eight quarters beginning in July 2006; and approximately $1.75
million per quarter for the last four quarters of the five-year period beginning
in July 2008. Additionally, subject to the conditions contained in the
securities purchase agreement, BioMarin will have the option to purchase all
outstanding shares of Ascent Pediatrics, Inc. for approximately $82 million.

     Upon closing of the asset purchase agreement and the license agreement,
BioMarin will be responsible for all marketing and promotional efforts regarding
the sale of ORAPRED(R). BioMarin will offer employment to the Ascent Pediatrics
field sales force. As a result, Medicis will no longer deploy a sales force to
call on pediatricians. Medicis will have responsibility for the manufacture and
delivery of finished goods inventory to BioMarin, and BioMarin will be
responsible for paying Medicis for future finished goods inventory delivered by
Medicis through June 30, 2005. During the term of the license agreement, Medicis
will maintain ownership of the intellectual property and, consequently, will
continue to amortize the related intangibles. Payments received from BioMarin
under the license agreement for continuing obligations will be treated as
contract revenue on Medicis' income statement.

     About BioMarin

     Headquartered in Novato, California, BioMarin Pharmaceutical Inc. develops
innovative biopharmaceutical products and commercializes therapeutics for
serious pediatric diseases. For additional information about BioMarin, please
visit the Company's





website at www.BMRN.com.

     About Medicis

     Medicis is the leading independent specialty pharmaceutical company in the
United States focusing primarily on the treatment of dermatological and
podiatric conditions and aesthetics medicine. Medicis has leading branded
prescription products in a number of therapeutic categories, including acne,
eczema, fungal infections, hyperpigmentation, photoaging, psoriasis, rosacea,
seborrheic dermatitis and skin and skin-structure infections. The Company's
products have earned wide acceptance by both physicians and patients due to
their clinical effectiveness, high quality and cosmetic elegance.

     The Company's products include the prescription brands RESTYLANE(R),
DYNACIN(R) (minocycline HCl), LOPROX(R) (ciclopirox), LUSTRA(R) (hydroquinone),
LUSTRA-AF(R) (hydroquinone) with sunscreen, ALUSTRA(R) (hydroquinone) with
retinol, OMNICEF(R) (cefdinir), PLEXION(R) Cleanser (sodium
sulfacetamide/sulfur), PLEXION TS(R) (sodium sulfacetamide/sulfur), PLEXION
SCT(R) (sodium sulfacetamide/sulfur), TRIAZ(R) (benzoyl peroxide), LIDEX(R)
(fluocinonide), and SYNALAR(R) (fluocinolone acetonide), the over-the-counter
brand ESOTERICA(R), and BUPHENYL(R) (sodium phenylbutyrate), a prescription
product indicated in the treatment of Urea Cycle Disorder. For more information
about Medicis, please visit the Company's website at www.medicis.com.

     Except for historical information, this press release includes
"forward-looking statements" within the meaning of the Securities Litigation
Reform Act. All statements included in this press release that address
activities, events or developments that Medicis expects, believes or anticipates
will or may occur in the future are forward-looking statements. This includes
earnings estimates, future financial performance and other matters. These
statements are based on certain assumptions made by Medicis based on its
experience and perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate in the
circumstances. Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Medicis. Any such
projections or statements include the current views of Medicis with respect to
future events and financial performance. No assurances can be given, however,
that these events will occur or that such results will be achieved. Medicis
cannot validate its assumptions of the full impact on its business of the
approval of competitive generic versions of its core brands, or any future
competitive product approvals that may affect its brands. Also, there are a
number of additional important factors that could cause actual results to differ
materially from those projected, including the anticipated size of the markets,
the availability of product supply, the receipt of required regulatory
approvals, the ability to realize anticipated synergies and benefits of the
Q-Med transaction, the risks and uncertainties normally incident to the
pharmaceutical industry, dependence on sales of key products, the uncertainty of
future financial results and fluctuations in operating results, dependence on
Medicis' strategy including the uncertainty of license payments and/or other
payments due from third parties, the timing and success of new product
development by Medicis or third parties, product introductions and other risks
described from time to time in Medicis' SEC filings including its Annual Report
on Form 10-K for the year ended June 30, 2003. There can be no assurance as to
when or if any of the holders of the Notes will have the right to convert or if
the Notes will be converted, and what impact the increase in the number of
shares outstanding will have on its results of operations. Forward-looking
statements





represent the judgment of Medicis' management as of the date of this release,
and Medicis disclaims any intent or obligation to update any forward-looking
statements.

     NOTE: Full prescribing information for any Medicis prescription product is
available by contacting the Company. OMNICEF(R) is a registered trademark of
Abbott Laboratories, Inc. under a license from Fujisawa Pharmaceutical Co., Ltd.
ORAPRED(R) is a registered trademark of Ascent Pediatrics, Inc., a wholly owned
subsidiary of Medicis Pharmaceutical Corporation. RESTYLANE(R) is a registered
trademark of HA North American Sales AB, a subsidiary of Medicis Pharmaceutical
Corporation. All other marks (or brands) and names are the property of Medicis
or its Affiliates.

CONTACT:   Medicis, Scottsdale
           Kara Stancell, 602-808-3854