Duncan-Williams downgrades Medicis Pharmaceutical from Strong Buy to a Buy. PT remains $35. Duncan says, "The Acne business is robust, persistent, and able to sustain modest price increases. (2) Dysport and the Restylane franchise will continue to grow because of savvy marketing; (3) We conservatively expect LipoSonix to be a ~$60 million product at peak, launching in 2011; and (4) we cautiously assume a return to growth of the cosmetic market."
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