Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ALTSCHUL ARTHUR G JR
  2. Issuer Name and Ticker or Trading Symbol
MEDICIS PHARMACEUTICAL CORP [MRX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
7720 N. DOBSON RD.
3. Date of Earliest Transaction (Month/Day/Year)
12/11/2012
(Street)

SCOTTSDALE, AZ 85256
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/11/2012   D   8,497 (1) D $ 44 0 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Employee Director Option $ 39.04 12/11/2012   D     21,000   (2) 09/30/2014 Common Stock 21,000 $ 4.96 (2) 0 D  
Non-Employee Director Option $ 37.85 12/11/2012   D     7,743   (3) 05/15/2019 Common Stock 7,743 $ 6.15 (3) 0 D  
Non-Employee Director Option $ 22.79 12/11/2012   D     15,000   (2) 05/20/2015 Common Stock 15,000 $ 21.21 (2) 0 D  
Non-Employee Director Option $ 33.81 12/11/2012   D     15,000   (2) 05/22/2014 Common Stock 15,000 $ 10.19 (2) 0 D  
Non-Employee Director Option $ 32.35 12/11/2012   D     7,500   (2) 09/29/2013 Common Stock 7,500 $ 11.65 (2) 0 D  
Non-Employee Director Option $ 23.62 12/11/2012   D     15,000   (2) 05/18/2017 Common Stock 15,000 $ 20.38 (2) 0 D  
Non-Employee Director Option $ 15.89 12/11/2012   D     5,545   (2) 05/19/2016 Common Stock 15,000 $ 28.11 (2) 0 D  
Non-Employee Director Option $ 32.56 12/11/2012   D     15,000   (2) 09/30/2015 Common Stock 15,000 $ 11.44 (2) 0 D  
Non-Employee Director Option $ 29.3 12/11/2012   D     21,000   (2) 09/30/2013 Common Stock 21,000 $ 14.7 (2) 0 D  
Non-Employee Director Option $ 36.29 12/11/2012   D     6,842   (2) 05/17/2018 Common Stock 6,842 $ 7.71 (2) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ALTSCHUL ARTHUR G JR
7720 N. DOBSON RD.
SCOTTSDALE, AZ 85256
       

Signatures

 Arthur Altschul   12/13/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On December 11, 2012, the Issuer completed its merger (the "Merger") with Valeant Pharmaceuticals International ("Valeant"), whereby the Issuer became a wholly owned subsidiary of Valeant, pursuant to an Agreement and Plan of Merger that was entered into on September 2, 2012 (the "Merger Agreement"). In accordance with the Merger Agreement, each share of common stock of the Issuer issued and outstanding immediately prior to the consummation of the Merger converted into a right to receive an amount in cash equal to $44.00 per share (the "Per Share Merger Consideration"), without interest. The amount of shares in Column 4 includes 2,311 restricted shares of common stock that also converted into a right to receive the Per Share Merger Consideration.
(2) In accordance with the terms of the Merger Agreement, each option to acquire shares of the Issuer (whether vested or unvested) that was outstanding immediately prior to the consummation of the Merger was cancelled in exchange for the right to receive an amount in cash equal to the product of the number of shares of Issuer common stock subject to the option and the excess, if any, of the Per Share Merger Consideration over the exercise price per share of each respective award, less any required withholding taxes. This award had fully vested prior to the consummation of the Merger.
(3) In accordance with the terms of the Merger Agreement, each option to acquire shares of the Issuer (whether vested or unvested) that was outstanding immediately prior to the consummation of the Merger was cancelled in exchange for the right to receive an amount in cash equal to the product of the number of shares of Issuer common stock subject to the option and the excess, if any, of the Per Share Merger Consideration over the exercise price per share of each respective award, less any required withholding taxes. This award was fully unvested prior to the consummation of the Merger.

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