UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 11-K/A
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended: December 31, 2008
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
 For the transition period from  to
 Commission file Number 001-14471
 MEDICIS PHARMACEUTICAL CORPORATION 401(k) PLAN
  MEDICIS PHARMACEUTICAL CORPORATION
 
 MEDICIS PHARMACEUTICAL CORPORATION 401(k) PLAN




---



##### 



EXPLANATORY NOTE
  Financial Statements and Supplemental Schedule




---



##### 



Contents
 Report of Independent Registered Public Accounting Firm
    
    
    1Financial StatementsStatements of Net Assets Available for Benefits
    
    
    2Statement of Changes in Net Assets Available for Benefits
    
    
    3Notes to Financial Statements
    
    
    4Supplemental ScheduleSchedule of Assets (Held at End of Year)
    
    
    13




---



##### 



1




---



##### 



December 312008
    
    2007AssetsInvestments, at fair value
    
    $
    21,683,361
    
    
    $
    26,268,671Employer contributions receivable
    
    
    1,623,965
    
    
    
    1,167,643Participant contributions receivable
    
    
    86,336
    
    
    
    64,134Interest and dividend receivable
    
    
    6,831
    
    
    
    2,337Net assets reflecting investments at fair value
    
    
    23,400,493
    
    
    
    27,502,785Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
    
    
    104,420
    
    
    
    (3,499
    )Net assets available for benefits
    
    $
    23,504,913
    
    
    $
    27,499,286
 See accompanying notes.
 2




---



##### 



Additions (deductions)Net investment (loss) income:Interest and dividend income
    
    $
    205,918Net realized and unrealized depreciation in fair value of investments
    
    
    (10,330,512
    )Net investment (loss) income
    
    
    (10,124,594
    )Contributions:Employee contributions
    
    
    4,191,197Rollover contributions
    
    
    377,246Employer contributions
    
    
    2,896,803Total contributions
    
    
    7,465,246Benefits paid directly to participants
    
    
    (2,179,528
    )Administrative expenses
    
    
    (11,881
    )Transfer due to plan merger (note 8)
    
    
    856,384Net decrease
    
    
    (3,994,373
    )Net assets available for benefits:Beginning of year
    
    
    27,499,286End of year
    
    $
    23,504,913
 See accompanying notes.
 3




---



##### 



1. Description of the Plan
 General
  Contributions
   Participant Accounts
  4




---



##### 



1. Description of the Plan (continued)
 Vesting
  Participant Loans
  Forfeitures
  Benefit Payments
  Plan Termination
  Administrative Expenses
  5




---



##### 



2. Significant Accounting Policies
 Basis of Accounting
  Investments Valuation
      6




---



##### 



2. Significant Accounting Policies (continued)
 Use of Estimates
  New Accounting Pronouncements
 Fair Value
Measurements. Determining the Fair Value of a Financial Asset When the Market for That Asset Is
Not Active
 Determining Fair Value When the Volume
and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying
Transactions That Are Not Orderly
 7




---



##### 



3. Investments
  2008
    
    2007Investment Co of America R5
    
    $
    2,782,107
    
    
    
    *Schwab Managed Retirement 2030 Cl II
    
    
    2,506,590
    
    
    
    *Schwab Stable Value Instl
    
    
    2,150,867
    
    
    
    *Schwab Managed Retirement 2020 Cl II
    
    
    1,467,797
    
    
    
    *Goldman Sachs Mid Cap Value Instl
    
    
    1,400,507
    
    
    
    *PIMCO Total Return Fund Cl A
    
    
    1,253,745
    
    
    
    *Brandywine Blue Fund
    
    
    1,249,592
    
    
    $
    1,674,269Medicis Pharmaceutical Corporation Class A
Common Stock
    
    
    1,235,488
    
    
    
    1,729,316William Blair International Growth Fund I
    
    
    1,232,893
    
    
    
    *Thornburg International Value I
    
    
    1,182,392
    
    
    
    1,849,461American Fund Investment Co Amer R4
    
    
    *
    
    
    
    4,116,181Schwab Managed Retirement 2030
    
    
    *
    
    
    
    3,052,706William Blair International Growth Fund N
    
    
    *
    
    
    
    2,496,717Goldman Sachs Mid Cap Value A
    
    
    *
    
    
    
    2,064,042Schwab Managed Retirement 2020
    
    
    *
    
    
    
    1,635,143UBS U.S. Small Cap Growth Cl Y
    
    
    *
    
    
    
    1,514,338
 
 *
    
    Investment balance represents less than 5% of net assets for indicated year.  Mutual funds
    
    $
    (7,348,632
    )Common collective trust funds
    
    
    (2,101,203
    )Common stock
    
    
    (880,677
    )Total
    
    $
    (10,330,512
    )
 8




---



##### 



4. Fair Value Measurements
  Level 1:
 Level 2:
 
    
    Quoted prices for similar assets or liabilities in active markets;
    
    Quoted prices for identical or similar assets or liabilities in inactive markets;
    
    Inputs other than quoted prices that are observable for the asset or liability;
    
    Inputs that are derived principally from or corroborated by observable market data by
correlation or other means.
    
    If the asset or liability has a specified (contractual) term, the Level 2 input must be
observable for substantially the full term of the asset or liability.
 Level 3:
   Mutual funds:
 9




---



##### 



4. Fair Value Measurements (continued)
 Medicis Pharmaceutical Corporation common stock:
 Money market:
 Self-direct brokerage account:
 Common collective trust funds:
 Participant loans:
   Level 1
    
    Level 2
    
    Level 3
    
    TotalMutual funds
    
    $
    11,864,015
    
    
    $
    
    
    
    $
    
    
    
    $
    11,864,015Medicis Pharmaceutical
Corporation common stock
    
    
    1,235,488
    
    
    
    
    
    
    
    
    
    
    
    1,235,488Self-direct brokerage
account
    
    
    884,598
    
    
    
    
    
    
    
    
    
    
    
    884,598Money market
    
    
    
    
    
    
    165
    
    
    
    
    
    
    
    165Common collective trust
funds
    
    
    
    
    
    
    7,411,835
    
    
    
    
    
    
    
    7,411,835Participant loans
    
    
    
    
    
    
    
    
    
    
    287,260
    
    
    
    287,260Total assets at fair value
    
    $
    13,984,101
    
    
    $
    7,412,000
    
    
    $
    287,260
    
    
    $
    21,683,361
 10




---



##### 



4. Fair Value Measurements (continued)
  ParticipantLoansBalance, beginning of year
    
    $
    238,267Purchase, sales, issuances and settlements (net)
    
    
    48,993Balance, end of year
    
    $
    287,260
 5. Income Tax Status
  6. Parties-In-Interest
  11




---



##### 



7. Reconciliation of Financial Statements to Form 5500
  December 312008
    
    2007Net assets available for benefits per the
financial statements
    
    $
    23,504,913
    
    
    $
    27,499,286Investment contract valuation  adjustment
from contract value to fair value
    
    
    (104,420
    )
    
    
    3,499Net assets available for benefits per Form 5500
    
    $
    23,400,493
    
    
    $
    27,502,785
 8. Transfer Due to Plan Merger
  9.  Other Matters
  12




---



##### 








---



##### 



Description of InvestmentIncluding Maturity Date, RateIdentity of Issue, Borrower, Lessor, or
    
    of Interest, Collateral, Par,
    
    
    
    CurrentSimilar Party
    
    Shares or Maturity Value
    
    Cost
    
    ValueMutual funds:American Beacon Lgcp Val Instl
    
    Registered Investment Company
    
    **
    
    $
    239,662Brandywine Blue Fund
    
    Registered Investment Company
    
    **
    
    
    1,249,592Cohen & Steers Institutional Global Realty
    
    Registered Investment Company
    
    **
    
    
    596,150Goldman Sachs Mid Cap Value Instl
    
    Registered Investment Company
    
    **
    
    
    1,400,507Investment Co of America R5
    
    Registered Investment Company
    
    **
    
    
    2,782,107MFS Value Fund Class A
    
    Registered Investment Company
    
    **
    
    
    893,133PIMCO Total Return Fund Cl A
    
    Registered Investment Company
    
    **
    
    
    1,253,745Thornburg International Value I
    
    Registered Investment Company
    
    **
    
    
    1,182,392Vanguard Mid Cap Growth Idx Inv
    
    Registered Investment Company
    
    **
    
    
    1,033,834William Blair International Growth Fund
    
    Registered Investment Company
    
    **
    
    
    1,232,893Allianz NACM Pacific Rim Fund Cl D
    
    Registered Investment Company
    
    **
    
    
    5,450Amana Growth Fund
    
    Registered Investment Company
    
    **
    
    
    13,120Amcent: Benham International Bond
    
    Registered Investment Company
    
    **
    
    
    22,738American Century Short Term Govt FD
    
    Registered Investment Company
    
    **
    
    
    30,356American Centy Invt TR
    
    Registered Investment Company
    
    **
    
    
    8,024Brandywine Advisors Fund
    
    Registered Investment Company
    
    **
    
    
    12,254CGM Focus Fund
    
    Registered Investment Company
    
    **
    
    
    14,300DFA Five-year Globalfixed Inc. Port
    
    Registered Investment Company
    
    **
    
    
    1,778DFA International Core Equity Portfolio
    
    Registered Investment Company
    
    **
    
    
    3,171DFA Real-estate Securities Portfolio
    
    Registered Investment Company
    
    **
    
    
    20,197DFA US Large Cap Value Portfolio
    
    Registered Investment Company
    
    **
    
    
    2,968DFA US Large Company Portfolio
    
    Registered Investment Company
    
    **
    
    
    14,090DFA US Micro Cap Port
    
    Registered Investment Company
    
    **
    
    
    3,534DFA US Small Cap Value Portfolio
    
    Registered Investment Company
    
    **
    
    
    4,443DFA US Targeted Value Portfolio CL I
    
    Registered Investment Company
    
    **
    
    
    22,509Dodge & Cox Income FD
    
    Registered Investment Company
    
    **
    
    
    20,528Dodge & Cox Stk FD
    
    Registered Investment Company
    
    **
    
    
    9,175FBR Small Cap Financial FD
    
    Registered Investment Company
    
    **
    
    
    5,016Fidelity Canada Fund
    
    Registered Investment Company
    
    **
    
    
    12,013Fidelity Floating Rate High Income Fund
    
    Registered Investment Company
    
    **
    
    
    12,828Franklin Aggressive
    
    Registered Investment Company
    
    **
    
    
    10,816Gabelli Small Cap Growth FD
    
    Registered Investment Company
    
    **
    
    
    6,144Gabelli Utilities Fund CL AAA
    
    Registered Investment Company
    
    **
    
    
    15,447Harbor Capital Appr FD Investor CL
    
    Registered Investment Company
    
    **
    
    
    8,582Hartford Growth Opportunities FD
    
    Registered Investment Company
    
    **
    
    
    11,122ICON Energy FD
    
    Registered Investment Company
    
    **
    
    
    4,927Janus Twenty Fund
    
    Registered Investment Company
    
    **
    
    
    12,433Janus Worldwide Fund
    
    Registered Investment Company
    
    **
    
    
    4,691Jennison Mid Cap Growth FD CL A
    
    Registered Investment Company
    
    **
    
    
    6,668Loomis Sayles Bond Fund CL R
    
    Registered Investment Company
    
    **
    
    
    10,616Marsico Focus Fund
    
    Registered Investment Company
    
    **
    
    
    21,643Matthews Asian Growth & Income FD
    
    Registered Investment Company
    
    **
    
    
    16,019Matthews Dragon Century China FD CL I
    
    Registered Investment Company
    
    **
    
    
    5,839
 13




---



##### 



Description of InvestmentIncluding Maturity Date, RateIdentity of Issue, Borrower, Lessor, or
    
    of Interest, Collateral, Par,
    
    
    
    CurrentSimilar Party
    
    Shares or Maturity Value
    
    Cost
    
    ValueMutual funds (continued):Merk Hard Currency Fund Inv Shares
    
    Registered Investment Company
    
    **
    
    
    16,487NB Focus Fund
    
    Registered Investment Company
    
    **
    
    
    7,054Neubrger Berman Midcap Growth FD Inv
    
    Registered Investment Company
    
    **
    
    
    6,640Oakmark Fund
    
    Registered Investment Company
    
    **
    
    
    51,397Old Mutual Large Cap Growth
    
    Registered Investment Company
    
    **
    
    
    6,336Perkins Mid Cap Value Inv Shares
    
    Registered Investment Company
    
    **
    
    
    8,361*
    
    Schwab S&P 500 Index Fund Inv Sh
    
    Registered Investment Company
    
    **
    
    
    28,684Sextant Growth Fund
    
    Registered Investment Company
    
    **
    
    
    6,796T Rowe Price New Era Fund
    
    Registered Investment Company
    
    **
    
    
    2,128Templeton Growth Fund Class A
    
    Registered Investment Company
    
    **
    
    
    13,950US Global Inv Global
    
    Registered Investment Company
    
    **
    
    
    4,745Vanguard F-I SECS I-T US Treasury
    
    Registered Investment Company
    
    **
    
    
    25,552Vanguard Inflation Protected SEC FD
    
    Registered Investment Company
    
    **
    
    
    25,6981st Source Monogram Income Equity FD
    
    Registered Investment Company
    
    **
    
    
    5,386Common collective trust funds:*
    
    Schwab Managed Retirement 2010 C1 II
    
    Common Collective Trust Fund
    
    **
    
    
    347,247*
    
    Schwab Managed Retirement 2020 C1 II
    
    Common Collective Trust Fund
    
    **
    
    
    1,467,797*
    
    Schwab Managed Retirement 2030 C1 II
    
    Common Collective Trust Fund
    
    **
    
    
    2,506,590*
    
    Schwab Managed Retirement 2040 C1 II
    
    Common Collective Trust Fund
    
    **
    
    
    817,857*
    
    Schwab Managed Retirement 2050 C1 II
    
    Common Collective Trust Fund
    
    **
    
    
    117,611*
    
    Schwab Managed Retirement Income II
    
    Common Collective Trust Fund
    
    **
    
    
    3,867*
    
    Schwab Stable Value Instl
    
    Common Collective Trust Fund
    
    **
    
    
    2,150,867Common stock:*
    
    Medicis Pharmaceutical CorporationClass A Common Stock
    
    Employer Securities
    
    **
    
    
    1,235,488*
    
    Participant loans
    
    Interest rates ranging from 5.0% to 9.5%; various maturities
    
    **
    
    
    287,260Money market Stock Liquidity
    
    Money Market
    
    **
    
    
    165Short-term investments:*
    
    Schwab Advisor Cash Reserves
    
    Short-term investments
    
    **
    
    
    3,228*
    
    Schwab Money Market Fund
    
    Short-term investments
    
    **
    
    
    297,064*
    
    Cash
    
    Short-term investments
    
    **
    
    
    1,652$
    21,683,361
 
 *
    
    Party in interest as defined by ERISA**
    
    Investments are participant-directed, therefore cost information is not required. 14




---



##### 



The Plan
 MEDICIS PHARMACEUTICAL CORPORATION 401(k) PLAN
(Full Title of the Plan)Date: July 12, 2011
    By:
    /s/ RICHARD D. PETERSONRichard D. PetersonExecutive Vice President, Chief Financial
Officer and Treasurer of Medicis
Pharmaceutical Corporation, issuer of the
securities held pursuant to the Plan (Plan
Administrator)