Medicis Pharmaceutical Announces Board Approval of Stock Repurchase Program

PHOENIX--(BW   HealthWire)--May  10,  1999--Medicis  Pharmaceutical  Corporation
NYSE:MRX) today announced that its board of directors approved a program for the
repurchase of up to $75 million of the Company's common stock in the open market
or through private  transactions.  The timing and terms of the purchases will be
determined by management  based upon market  conditions  and corporate cash flow
requirements.  Medicis currently has approximately 28.6 million shares of common
stock outstanding.

"Our decision to establish a stock  repurchase  program at Medicis  reflects our
confidence  in the Company and the strong  position we will  continue to hold in
the rapidly developing pharmaceutical  industry," said Jonah Shacknai,  Chairman
and Chief Executive Officer of Medicis.

Medicis is the leading independent  pharmaceutical  company in the United States
focusing  primarily  on the  treatment  of  dermatological  conditions.  Medicis
develops and markets  leading  products for major  segments  within  dermatology
including acne, psoriasis,  eczema, rosacea,  dandruff and cosmesis (improvement
in the texture and appearance of skin).  Primary products  include  prescription
brands  DYNACIN(R),   TRIAZ(R),   LUSTRA(R),   LOPROX(R),   OVIDE(R),  LIDEX(R),
SYNALAR(R),  TOPICORT(R),  NOVACET(R), ZONALON(R) and A/T/S(R); over-the-counter
brands   ZOSTRIX(R),   ESOTERICA(R)  and  THERAPLEX(R);   and  BUPHENYL(TM),   a
prescription product indicated in the treatment of Urea Cycle Disorders.

Except  for  historical   information,   this  news  release   contains  certain
forward-looking  statements that involve risks and uncertainties which may cause
actual  results to differ  materially  from the statements  made,  including the
Company's  dependence on sales of key products,  uncertainty of future financial
results and  fluctuations  in operating  results,  dependence  on the  Company's
acquisition  strategy,  new product introductions and other risks described from
time to time in the  Company's  SEC filings.  These  forward-looking  statements
represent  the  judgment of the  Company,  as of the date of this  release,  and
Medicis  disclaims  any intent or  obligation  to update  these  forward-looking
statements.

CONTACT:    Medicis Pharmaceutical Corporation
            Libby Retherford, (602) 808-3854
            www.medicis.com
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