8-K

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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K
                                 CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15 (d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934




      Date of Report (Date of Earliest Event Reported): November 21, 2003

                       Medicis Pharmaceutical Corporation
               (Exact Name of Registrant as Specified in Charter)


   Delaware                   0-18443                        52-1574808
(State or Other      (Commission File Number)  (IRS Employer Identification No.)
Jurisdiction of
Incorporation)

8125 North Hayden Road
Scottsdale,  Arizona                                                  85258-2463
(Address of Principal                                                 (Zip Code)
Executive Offices)


Registrant's telephone number, including area code:  (602) 808-8800



                                      N/A
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         (Former Name or Former Address, if Changed Since Last Report)



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Item 7.       Financial Statements and Exhibits

(a) Financial Statements of Business Acquired.

Not Applicable.

(b) Pro Forma Financial Information.

Not Applicable.

(c) Exhibits.

99.1 Copy  of  Press  Release,  dated  November  21,  2003,  issued  by  Medicis
     Pharmaceutical Corporation.




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           MEDICIS PHARMACEUTICAL
                                           CORPORATION
                                           (Registrant)

                                           /s/ Mark A. Prygocki, Sr.
Date:  November 21, 2003                   ----------------------------------
                                           Name:     Mark A. Prygocki, Sr.
                                           Title:    Executive Vice President,
                                                     Chief Financial Officer,
                                                     Corporate Secretary and
                                                     Treasurer




                                 EXHIBIT INDEX


EXHIBIT
NUMBER               DESCRIPTION
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99.1                 Copy of Press Release, dated November 21, 2003, issued by
                     Medicis Pharmaceutical Corporation.

EX-99

                                                                    EXHIBIT 99.1

            MEDICIS ANNOUNCES RESTYLANE(R)'S RECOMMENDATION FROM FDA
                                 ADVISORY PANEL

SCOTTSDALE, Arizona--November 21, 2003--Medicis (NYSE: MRX) today announced that
a Food and Drug  Administration  ("FDA")  Advisory  Panel  has  recommended  the
approval of RESTYLANE(R), a dermal filler, by a vote of 6 to 3, with conditions,
most of which have been previously recommended by the Company. The FDA's General
and Plastic  Surgery  Devices  Advisory Panel  reviewed the Pre-Market  Approval
("PMA") application for RESTYLANE(R) at a meeting on Friday, November 21, 2003.

"We are  pleased  with  the  FDA  Advisory  Panel's  recommendation  to  approve
RESTYLANE(R),"  said Jonah  Shacknai,  Chairman and Chief  Executive  Officer of
Medicis. "RESTYLANE(R)'s patented NASHA(TM) technology and its history of safety
and persistence in over 1 million  procedures,  performed in the 60 countries in
which it is already approved,  have made RESTYLANE(R) the world market-leader in
dermal fillers.  The FDA Advisory  Panel's decision  reflects  confidence in the
data of safety and efficacy submitted to the FDA in the June 19, 2002 PMA."

RESTYLANE(R) is an injectable,  transparent,  non-animal  stabilized  hyaluronic
acid  ("NASHA(TM)")  gel used for the  correction of facial  wrinkles and folds,
which requires no patient sensitivity test in advance of product administration,
in countries where it is marketed  currently.  RESTYLANE(R) is injected into the
dermal tissue,  immediately  adding volume and restoring contour to the face. As
RESTYLANE(R)  is metabolized  naturally by the body, it attracts and binds water
molecules, adding additional volume to the injection site. In the United States,
the FDA  regulates  such  products  as medical  devices.  RESTYLANE(R)  has been
promoted in over 60 countries since 1996 for the treatment of nasolabial  folds,
glabellar lines,  periorbital lines,  vermillion borders,  lips, smile lines and
oral commissures.  RESTYLANE(R) is currently approved for investigational use in
the United States. On March 10, 2003, Medicis acquired all outstanding shares of
HA North American Sales AB from Q-Med,  a Swedish  biotechnology/medical  device
company.  HA North  American Sales AB holds a license for the exclusive U.S. and
Canadian  rights to market,  distribute  and  commercialize  the  dermal  filler
product lines known as RESTYLANE(R), PERLANE(TM) and RESTYLANE Fine Lines(TM).

Medicis Aesthetics,  Inc., a wholly-owned  subsidiary of Medicis  Pharmaceutical
Corporation,  will market and sell  RESTYLANE(R) in the United States upon final
FDA approval.  Medicis  Pharmaceutical  Corporation  is the leading  independent
specialty  pharmaceutical company in the United States focusing primarily on the
treatment  of  dermatological,   pediatric  and  podiatric  conditions.  Medicis
Pharmaceutical Corporation has leading branded prescription products in a number
of therapeutic categories, including acne, asthma, eczema, fungal infections,

                                     (more)


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 DYNACIN(R)  (minocycline
HCl),   LOPROX(R)   (ciclopirox),    LUSTRA(R)   (hydroquinone),    LUSTRA-AF(R)
(hydroquinone)   with  sunscreen,   ALUSTRA(R)   (hydroquinone)   with  retinol,
OMNICEF(R) (cefdinir),  ORAPRED(R)  (prednisolone sodium phosphate),  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.  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.  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,  that such
results will be achieved,  that Medicis will continue to have the ability to pay
any dividend,  or that tax rates on cash dividends will not change.  Also, there
are a number of  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, including the final approval for RESTYLANE(R), 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.
All  other  marks (or  brands)  and names are the  property  of  Medicis  or its
Affiliates.

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