Document:

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                                                                    EXHIBIT 10.3

                                LICENSE AGREEMENT

      This LICENSE AGREEMENT ("AGREEMENT") is entered into as of May 18, 2004
(the "EFFECTIVE DATE") by and among BioMarin Pharmaceutical Inc., a Delaware
corporation ("BIOMARIN"), BioMarin Pediatrics Inc., a Delaware corporation and
wholly-owned subsidiary of BioMarin ("BIOMARIN ACQUISITION" or "LICENSEE"),
Medicis Pharmaceutical Corporation, a Delaware corporation ("MEDICIS"), and
Ascent Pediatrics, Inc., a Delaware corporation ("ASCENT" or "LICENSOR"), a
wholly-owned subsidiary of Medicis. Each is referred to herein as a "PARTY" and
collectively as the "PARTIES."

                                    RECITALS

      WHEREAS, Ascent is the sole and exclusive owner or has control of the
entire right, title, and interest, together with all goodwill connected
therewith, in and to the Licensed Technology, Licensed Trademarks and Licensed
Development Technology (each as defined below);

      WHEREAS, Ascent wishes to grant to BioMarin Acquisition, and BioMarin
Acquisition wishes to receive, an exclusive, worldwide, license to such Licensed
Technology, Licensed Trademarks and Licensed Development Technology under the
terms and conditions set forth herein; and

      WHEREAS, this Agreement is entered into as a condition to the consummation
of the transactions contemplated under the Asset Purchase Agreement (as defined
below) by and among BioMarin, BioMarin Acquisition, Medicis and Ascent.

      NOW, THEREFORE, in consideration of the mutual covenants, representations,
warranties and promises contained herein, the Parties hereby agree as follows:

1.    DEFINITIONS

      1.1   DEFINITIONS. In addition to the terms defined in the text of this
Agreement, the following terms shall have the following respective definitions:

            (a)   "AFFILIATE" means with respect to any Person, any other Person
controlling, controlled by or within common control with such Person. Without
limiting the foregoing, Ascent is an Affiliate of Medicis and Medicis is an
Affiliate of Ascent, and BioMarin is an Affiliate of BioMarin Acquisition and
BioMarin Acquisition is an Affiliate of BioMarin.

            (b)   "ANDA" means Abbreviated New Drug Application 75-117 for
prednisolone sodium phosphate oral solution formulation, 15mg (base)/ 5ml,
together with all amendments, modifications, supplements and updates thereto.

            (c)   "ASCENT INDEMNITEES" means Ascent and Medicis.

            (d)   "ASCENT MERGER AGREEMENT" means that certain Agreement and
Plan of Merger among Medicis, MPC Merger Corp. and Ascent, dated October 1,
2001.

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            (e)   "ASCENT TECHNICAL ASSISTANCE" means the technical assistance
and training to be provided by Ascent hereunder that is reasonably necessary to
enable BioMarin Acquisition to utilize and in order to disclose fully the
Licensed Technology and Licensed Development Technology in connection with the
Pediatric Business as it was conducted by Ascent immediately prior to the
Effective Date.

            (f)   "ASSET PURCHASE AGREEMENT" means that certain asset purchase
agreement among BioMarin, BioMarin Acquisition, Ascent and Medicis dated as of
April 20, 2004.

            (g)   "BANKRUPTCY PROCEEDING" means any case or proceeding commenced
by or against any Person under any provision of the U.S. Bankruptcy Code (title
11 of the United States Code, as in effect from time to time) or under any other
state or federal bankruptcy or insolvency law, assignments for the benefit of
creditors, formal or informal moratoria, compositions, extensions generally with
creditors, or proceedings seeking reorganization, arrangement, or other similar
relief.

            (h)   "BIOMARIN INDEMNITEES" means BioMarin Acquisition and
BioMarin.

            (i)   "BIOMARIN SHARE" means a share of BioMarin's common stock, par
value $.001 per share.

            (j)   "BREACH" means an inaccuracy in or breach of, or any failure
to comply with or perform, a representation, warranty, covenant, obligation or
other provision.

            (k)   "BUSINESS DAY" means any day excluding Saturday, Sunday and
any day which shall be in the State of New York a legal holiday or a day on
which banking institutions are authorized by law to close.

            (l)   "CASH DEPOSIT" means $25 million.

            (m)   "CDA" means that certain Confidentiality Agreement by and
among the Parties and Medicis Manufacturing Corporation, a Delaware corporation,
dated as of the date hereof.

            (n)   "CLOSING" means the "Closing" as defined in the Asset Purchase
Agreement.

            (o)   "COMMISSION" means the Securities and Exchange Commission or
any other federal agency at the time administering the Securities Act.

            (p)   "CONTINGENT PAYMENTS REIMBURSEMENT PAYMENTS" means the
Quarterly Contingent Payments Reimbursement Payments payable pursuant to Section
4.1(b).

            (q)   "CONTRACT" means any written, oral, implied or other
agreement, contract, understanding, arrangement, instrument, note, guaranty,
indemnity, deed, assignment, power of attorney, certificate, purchase order,
work order, insurance policy, benefit plan, commitment, covenant, assurance or
undertaking of any nature.

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            (r)   "DAMAGES" shall include any loss, damage, injury, Liability,
claim, demand, settlement, judgment, award, fine, penalty, Tax, fee (including
reasonable legal fees, expert fees, accounting fees or advisory fees), charge,
cost (including reasonable costs of investigation) or expense of any nature.

            (s)   "DEVELOPMENT KNOW HOW" shall mean technical, scientific and
medical information, knowledge, know-how, inventions and trade secrets, that are
necessary for the development, registration, manufacturing, packaging,
stability, bioavailability, formulation, sale, use or commercialization of the
products claimed in the Development Licensed Patents, owned by Ascent or its
Affiliates, as of the Effective Date.

            (t)   "DEVELOPMENT LICENSED PATENTS" means all the United States and
foreign patents and utility models, invention registrations, supplementary
protection certificates and applications therefor listed in Schedule 1.1(t) and
all reissues, divisionals, renewals, extensions, provisionals, continuations,
and continuations-in-part thereof.

            (u)   "DUAL USE KNOW HOW" shall mean technical, scientific and
medical information, knowledge, know-how, inventions and trade secrets which (a)
(i) is owned by Ascent or its Affiliates and pertain or relate to both oral
liquid prednisolone solution products and the Primsol product previously
marketed by Ascent under Abbreviated New Drug Application 74-973 or (ii) is
controlled by or licensed to Ascent or its Affiliates on a non-exclusive basis,
and is sublicensable to a third party by Ascent or its Affiliates but is not
owned by Ascent or its Affiliates and (b) is necessary for, used in or related
to the development, registration, manufacturing, formulation, sale, use and
commercialization of oral liquid prednisolone solution products.

            (v)   "ENCUMBRANCE" shall mean any lien, pledge, hypothecation,
charge, mortgage, security interest, encumbrance, equitable interest, claim,
preference, right of possession, lease, license, covenant, infringement, Order,
proxy, option, right of first refusal, preemptive right, legend, defect,
impediment, exception, reservation, limitation, impairment, imperfection of
title, condition or restriction of any nature (including any restriction on the
transfer of any asset, any restriction on the receipt of any income derived from
any asset, any restriction on the use of any asset and any restriction on the
possession, exercise or transfer of any other attribute of ownership of any
asset).

            (w)   "ENTITY" means any corporation (including any non profit
corporation), general partnership, limited partnership, limited liability
partnership, joint venture, estate, trust, cooperative, foundation, company
(including any limited liability company or joint stock company), firm or other
enterprise, association, organization or entity.

            (x)   "ESCROW AGENT" means U.S. Bank, N.A., or such other escrow
agent as mutually agreed to by Medicis and BioMarin.

            (y)   "ESCROW AGREEMENT" means that certain Escrow Agreement entered
into by and among Medicis, Ascent and the Escrow Agent in substantially the form
attached hereto as EXHIBIT A.

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            (z)   "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934,
as amended, and any regulations promulgated thereunder.

            (aa)  "FDA" shall mean the United States Food and Drug
Administration.

            (bb)  "GOVERNMENTAL BODY" means any United States federal, state or
local judicial, legislative, executive or other regulatory authority.

            (cc)  "IMPROVEMENTS" means any and all inventions, improvements,
discoveries, enhancements, extensions, replacements, developments, refinements,
or modifications to the Licensed Technology or the Licensed Development
Technology, or utilizing the Licensed Technology or the Licensed Development
Technology, or the respective use or the manufacturing processes therefor,
whether or not patentable, which may be conceived, made, developed or otherwise
controlled by Licensee or its Affiliates during the License Term including,
without limitation, modifications in size, package forms, dosage strength,
methods for administration, methods for delivering, or changes in the
formulation including the addition of actives to products.

            (dd)  "INDEMNIFIED PARTIES" means the Ascent Indemnitees or the
BioMarin Indemnitees, as the case may be.

            (ee)  "INDEMNIFYING PARTIES" means Ascent or BioMarin, as the case
may be.

            (ff)  "KNOWLEDGE" An individual shall be deemed to have "Knowledge"
of a particular fact or other matter if such individual is actually aware of
such fact or other matter. Each of Ascent or Medicis shall be deemed to have
"Knowledge" of a particular fact or other matter if any officer or individual
identified on EXHIBIT B hereto has Knowledge of such fact or other matter. Each
of BioMarin Acquisition or BioMarin shall be deemed to have "Knowledge" of a
particular fact or other matter if any officer or individual identified on
EXHIBIT C hereto has Knowledge of such fact or other matter.

            (gg)  "LEGAL REQUIREMENT" means any applicable order, writ,
injunction, judgment, decree, statute, rule or regulation of any Governmental
Body.

            (hh)  "LIABILITY" means any debt, obligation, liability of any
nature (including any unknown, undisclosed, unmatured, unaccrued, unasserted,
contingent, indirect, conditional, derivative, joint, several or secondary
liability), regardless of whether such debt, obligation or liability would be
required to be disclosed on a balance sheet prepared in accordance with
generally accepted accounting principles and regardless of whether such debt,
obligation or liability is immediately due and payable.

            (ii)  "LICENSE PAYMENTS" means the Closing License Payment, the
First Year Quarterly License Payments, the Second Year Quarterly License
Payments, the Third and Fourth Year Quarterly License Payments and the Fifth
Year Quarterly License Payments.

            (jj)  "LICENSE TERM" means the term defined in Section 11.1 of this
Agreement.

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            (kk)  "LICENSED ASSETS" means the Licensed Technology, the Licensed
Development Technology, the Licensed Trademarks and the Improvements.

            (ll)  "LICENSED DEVELOPMENT TECHNOLOGY" means the Development
Licensed Patents and the Development Know How.

            (mm)  "LICENSED PRODUCTS" means any product or method made, used,
imported, offered for sale, distributed or sold which, if in the course of such
manufacture, use, importation, offer for sale, distribution or sale, would, in
the absence of this Agreement, infringe or misappropriate one or more of the
Licensed Assets.

            (nn)  "LICENSED TECHNOLOGY" means the Taste Masking Related Licensed
Patents and the Product Know How.

            (oo)  "LICENSED TRADEMARKS" means all business names, trade names,
logos, common law trademarks and service trademarks, trademark and service mark
registrations and applications therefor as set forth on Schedule 1.1(oo).

            (pp)  "LITIGATION MATTERS" means those matters set forth in EXHIBIT
D hereto.

            (qq)  "LYNE LICENSE" means that certain License Agreement by and
between Ascent and Lyne Laboratories, Inc., dated as of May 21, 2001, without
regard to any amendment or modification thereof subsequent to the date hereof.

            (rr)  "MATERIAL ADVERSE EFFECT" With respect to Medicis and/or
Ascent, an "ASCENT MATERIAL ADVERSE EFFECT" means any event, circumstance,
condition, development or occurrence causing, resulting in or having a material
adverse effect on the Licensed Assets, or the Pediatrics Business, taken as a
whole; provided that in no event shall any of the following be deemed to
constitute or be taken into account in determining an Ascent Material Adverse
Effect: any event, circumstance, change or effect that results from (A) changes
affecting the economy generally, (B) changes in the pharmaceutical industry as a
whole or in the market for oral liquid prednisolone solution products or oral
dissolving tablet prednisolone products, (C) the public announcement or pending
nature of the transactions contemplated hereby, or (D) any adverse judgment,
verdict or Order relating to the Litigation Matters. With respect to BioMarin
and/or BioMarin Acquisition, a "BIOMARIN MATERIAL ADVERSE EFFECT" means any
event, circumstance, condition, development or occurrence causing, resulting in
or having a material adverse effect on the business, condition, capitalization,
assets, liabilities, operations or financial performance of BioMarin, taken as a
whole; provided that in no event shall any of the following be deemed to
constitute or be taken into account in determining a BioMarin Material Adverse
Effect: any event, circumstance, change or effect that results from (x) changes
affecting the economy generally, (y) changes in the pharmaceutical industry as a
whole, or (z) the public announcement or pending nature of the transactions
contemplated hereby.

            (ss)  "MATERIALS" means all material files, documents (including
either electronic or paper copies), specimens, records and other documentation
maintained by or under the control of Ascent and/or any Ascent Affiliate(s)
embodying Product Know How or Development Know How including, without
limitation, all test results, clinical studies, data management, manufacturing
processes, formulas, specifications, process development and non-

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clinical research, market studies, correspondence (including, without
limitation, correspondence both to and from the Federal Drug Administration,
United States Copyright Office, United States Patent and Trademark Office or any
other Governmental Body), filings with the Food and Drug Administration, United
States Copyright Office, United States Patent and Trademark Office or any other
Governmental Body, customer and supplier records for the previous three years,
and field force records for the previous three years.

            (tt)  "ORAPRED(R)" means a product having the approved prednisolone
sodium phosphate oral solution formulation, 15mg (base)/5ml as set forth under
Abbreviated New Drug Application 75-117.

            (uu)  "ORDER" shall mean any order, judgment, injunction, decree,
ruling, decision, opinion, verdict, sentence, writ or award issued, made,
entered, rendered or otherwise put into effect by or under the authority of any
court, administrative agency or other Governmental Body or any arbitrator or
arbitration panel.

            (vv)  "PATENTS" means all United States and foreign patents and
utility models, invention registrations, supplementary protection certificates
and applications therefor and all reissues, divisions, renewals, extensions,
provisionals, continuations and continuations-in-part thereof, and equivalent or
similar rights anywhere in the world in inventions and discoveries.

            (ww)  "PEDIATRICS BUSINESS" means the business of making,
manufacturing, marketing, selling, distributing and developing ORAPRED(R) and
certain oral liquid prednisolone solution products and oral dissolving tablet
prednisolone products.

            (xx)  "PERMITTED LIENS" shall mean liens for Taxes, assessments and
other governmental charges which are not due and payable or which may hereafter
be paid without penalty or which are being contested in good faith by
appropriate proceedings.

            (yy)  "PERSON" means any individual, Entity or Governmental Body.

            (zz)  "PROCEEDING" means any claim, action, suit, litigation,
arbitration, proceeding (including any civil, criminal, administrative,
investigative or appellate proceeding), or investigation commenced, brought,
conducted or heard by or before, or otherwise involving, any Governmental Body
or any arbitrator or arbitration panel.

            (aaa) "PRODUCT KNOW HOW" shall mean technical, scientific and
medical information, knowledge, know-how, inventions and trade secrets, that are
necessary for the development, registration, manufacturing, packaging,
stability, bioavailability, formulation, sale, use or commercialization of
ORAPRED(R) and the "Licensed Products" (as defined in the Development,
Commercialization and License Agreement between Ascent Pediatrics Inc. and Cima
Labs Inc.), as the case may be, including, without limitation: (a)
physiochemical data, specifications, quality control information and procedures;
(b) market research data solely to the extent Ascent has the right to assign
such data to BioMarin Acquisition; and (c) information concerning the clinical,
toxicological and pharmacological properties with respect to all of the
foregoing, owned by Ascent or its Affiliates, as of the Effective Date; provided
that Product Know How shall not include any Dual Use Know How.

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            (bbb) "REPRESENTATIVES" means officers, directors, employees,
agents, attorneys, accountants, advisors and representatives.

            (ccc) "SECONDARY ANDA" means the Abbreviated New Drug Application
numbered 75-250, together with all amendments, modifications, supplements and
updates thereto.

            (ddd) "SECURITIES ACT" means the Securities Act of 1933, as amended,
and the regulations promulgated thereunder.

            (eee) "SECURITIES PURCHASE AGREEMENT" means that certain Securities
Purchase Agreement among BioMarin, BioMarin Acquisition, Medicis and Ascent
dated as of the Effective Date.

            (fff) "SHARE DEPOSIT" shall mean that number of BioMarin Shares with
an aggregate value, as of the Effective Date, of $25 million, as measured by the
average closing sales price per BioMarin Share over the twenty trading days
ending May 12, 2004.

            (ggg) "SUBSEQUENT ANDA" shall mean any Abbreviated New Drug
Application filed by Ascent or BioMarin, in each case in Ascent's name,
following the Effective Date for which BioMarin Acquisition is the regulatory
agent other than the ANDA and the Secondary ANDA.

            (hhh) "SUBSIDIARY" shall mean with respect to any Person, any other
Person (a) of which the initial Person directly or indirectly owns or controls
more than 50% of the voting equity interests or has the power to elect or direct
the election of a majority of the members of the governing body of such Person
or (b) which is required to be consolidated with such Person under generally
accepted accounting principles.

            (iii) "SUPPLY AGREEMENT" means that certain Supply Agreement by and
between Medicis Manufacturing Corporation, a Delaware corporation, and BioMarin
Acquisition dated as of the date hereof, and any subcontracts related thereto.

            (jjj) "TASTE MASKING RELATED LICENSED PATENTS" means all the United
States and foreign patents and utility models, invention registrations,
supplementary protection certificates and applications therefor listed in
Schedule 1.1(jjj) and all reissues, divisionals, renewals, extensions,
provisionals, continuations, and continuations-in-part thereof.

            (kkk) "TAX" means any tax (including any income tax, franchise tax,
capital gains tax, estimated tax, gross receipts tax, value added tax, surtax,
excise tax, ad valorem tax, transfer tax, stamp tax, sales tax, use tax,
property tax, business tax, occupation tax, inventory tax, occupancy tax,
withholding tax or payroll tax), levy, assessment, tariff, impost, imposition,
toll, duty (including any customs duty), deficiency or fee, and any related
charge or amount (including any fine, penalty or interest), that is, has been or
may in the future be (a) imposed, assessed or collected by or under the
authority of any Governmental Body, or (b) payable pursuant to any tax sharing
agreement or similar Contract.

            (lll) "TERRITORY" shall mean worldwide.

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            (mmm) "TRANSACTION AGREEMENTS" means: (a) this Agreement; (b) the
Escrow Agreement; and (c) the Security Agreement.

            (nnn) "TRANSITION SERVICES AGREEMENT" means that certain Transition
Services Agreement by and among the parties of even date herewith.

      1.2   OTHER DEFINED TERMS.

            Other defined terms are located in the Agreement as follows:

<TABLE>
<CAPTION>
DEFINED TERM                                                            PAGE NO.
------------                                                            --------
<S>                                                                     <C>
AGREEMENT                                                                   1
ASCENT                                                                      1
ASCENT CAP                                                                 33
ASCENT OBLIGATIONS                                                         42
ASCENT REGISTRATION INDEMNIFIED PARTIES                                    26
BIOMARIN                                                                    1
BIOMARIN ACQUISITION                                                        1
BIOMARIN ACQUISITION OBLIGATIONS                                           42
BIOMARIN CAP                                                               34
BIOMARIN REGISTRATION INDEMNIFIED PARTIES                                  26
CLAIM NOTICE                                                               32
CLOSING LICENSE PAYMENT                                                    16
CONTINGENT PAYMENTS                                                         9
EFFECTIVE DATE                                                              1
ENFORCEABILITY EXCEPTION                                                   20
FIFTH YEAR QUARTERLY LICENSE PAYMENT                                       17
FIRST YEAR QUARTERLY LICENSE PAYMENT                                       17
FIRST YEAR QUARTERLY PAYMENT DATE                                          17
HOLDER                                                                     24
LICENSE                                                                     9
LICENSE TERM                                                               30
LICENSEE                                                                    1
LICENSOR                                                                    1
MEDICIS                                                                     1
PARTIES                                                                     1
PARTY                                                                       1
QUARTERLY CONTINGENT PAYMENTS REIMBURSEMENT PAYMENT                        17
REGISTRATION INDEMNIFIED PARTIES                                           26
REPORTING YEAR                                                              9
RESTRICTED STOCK                                                           23
SECOND YEAR QUARTERLY LICENSE PAYMENT                                      17
SECURITY AGREEMENT                                                         10
SUSPENSION PERIOD                                                          24
THIRD AND FOURTH YEAR QUARTERLY LICENSE PAYMENT                            17
THIRD PARTY CLAIM                                                          35
</TABLE>

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2.    LICENSE GRANT

      2.1   LICENSE GRANT.

            (a)   Subject to the terms and conditions of this Agreement and the
Lyne License, Ascent hereby grants to BioMarin Acquisition during the License
Term, an exclusive, worldwide license (with the sole exception, for a period of
thirty (30) days following the Effective Date, of the Commonwealth of Puerto
Rico), with the right to sublicense, to and under the Licensed Assets to make,
manufacture, develop, use, market, offer for sale, sell, distribute, import and
export products, by itself and/or on its behalf, and to otherwise exploit the
Licensed Assets during the License Term (the "LICENSE"). For avoidance of doubt,
this License grant is for a limited term and shall not be considered an
assignment.

            (b)   Subject to the terms and conditions of this Agreement, Ascent
hereby grants to BioMarin Acquisition during the License Term, a non-exclusive,
worldwide license (with the sole exception, for a period of thirty (30) days
following the Effective Date, of the Commonwealth of Puerto Rico), with the
right to sublicense, to and under the Dual Use Know How to make, manufacture,
develop, use, market, offer for sale, sell, distribute, import and export
products, by itself and/or its behalf, and to otherwise exploit the Dual Use
Know How during the License Term. The term "LICENSE" shall not include the
license granted under this Section 2.1(b).

      2.2   LICENSE SCOPE. The License shall be exclusive to BioMarin
Acquisition even as against Ascent and its Affiliates. Accordingly, neither
Ascent nor any of its Affiliates shall during the License Term exercise or
otherwise practice any of the rights granted to BioMarin Acquisition pursuant to
the License.

      2.3   OTHER ACTIONS.

            (a)   To the extent any right, title or interest in or to any of the
Licensed Technology, Licensed Development Technology or Licensed Trademarks is
owned or controlled by an Affiliate of Ascent, Ascent covenants and agrees to
promptly take whatever action is necessary to carry out the intent and purpose
of the License.

            (b)   For so long as Medicis is obligated under the Ascent Merger
Agreement for "CONTINGENT PAYMENTS" (as that term is defined in the Ascent
Merger Agreement) to the former shareholders of Ascent, BioMarin Acquisition
shall, on or before December 10 in each calendar year, provide to Ascent a
report containing the following with respect to the twelve month period
beginning on December 1 of the previous year and ending on November 30 (each, a
"REPORTING YEAR"):

                  (i)   the gross amount and unit quantities invoiced by
BioMarin Acquisition or its subsidiaries, Affiliates, or sublicensees from or on
account of sales of Licensed Products (as such term is defined in the Ascent
Merger Agreement);

                  (ii)  the aggregate of any (A) normal, customary trade
discounts (including volume discounts) actually given or made, (B) credits,
chargebacks, reductions, rebates, allowances and adjustments for rejections,
recalls, outdated products and returns, (C)

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freight, shipping, insurance and other transportation charges, and (D) sales,
use, excise, value-added and similar taxes or duties imposed on the sale (other
than income taxes), in each case under clauses (A), (B), (C) and (D) with
respect to Licensed Products (as such term is defined in the Ascent Merger
Agreement); and

                  (iii) such other information reasonably necessary for Ascent
to fulfill its obligations under the Ascent Merger Agreement.

            (c)   For a period of not less than three (3) years after the
relevant calendar year in (b) above, BioMarin, BioMarin Acquisition and their
Subsidiaries, Affiliates, licensees and sublicensees shall keep full, true and
accurate books of account sufficient to determine the amounts pursuant to
Section 2.3(b). Ascent shall have the right, not more than once during any
calendar year and at its expense, to have the books and records of BioMarin,
BioMarin Acquisition and their Subsidiaries, Affiliates, licensees or
sublicensees audited by a qualified independent accounting firm of its choosing,
under appropriate confidentiality provisions, solely for the purpose of
ascertaining the accuracy of the reports under Section 2.3(b) and compliance by
BioMarin, BioMarin Acquisition and their Subsidiaries, Affiliates, licensees or
sublicensees with their obligations under this Agreement. In the event that
there is a dispute with regard to the accounting reports, Ascent shall have the
right to perform audits more frequently than once during a calendar year, and
the prevailing party in such dispute shall have its costs related to the audit
reimbursed by the other party. Any such audit shall be conducted upon at least
ten (10) days' advance notice to BioMarin Acquisition, during normal business
hours and in a manner that does not interfere unreasonably with the business of
the audited entity.

            (d)   Ascent shall not permit or allow any Licensed Assets to be
subject to any Encumbrance other than this Agreement, the Lyne License, the
Supply Agreement and the Security Agreement.

            (e)   BioMarin and BioMarin Acquisition shall not permit or allow
this License Agreement to be subject to any Encumbrance.

            (f)   As security for the obligations of Ascent under this
Agreement, pursuant to the terms of a Security Agreement in the form of EXHIBIT
E (the "SECURITY AGREEMENT") Ascent shall grant to BioMarin Acquisition a
security interest in the Licensed Trademarks.

      2.4   LICENSEE'S EFFORTS. BioMarin Acquisition shall use commercially
reasonable efforts to market, promote and sell ORAPRED(R), which efforts shall
include the allocation of efforts and resources consistent with the resources
allocated by BioMarin Acquisition to the marketing, promotion and sale of other
commercially available products of BioMarin Acquisition with comparable
commercial opportunity in the marketplace. BioMarin Acquisition shall use
commercially reasonable efforts to develop, market commercialize and sell
Acetaminophen extended release sprinkles, Pediavent(R) albuterol extended
release suspension, and Non-refrigerated Orapred(R) prednisolone sodium
phosphate oral solution (15 mg prednisolone per 5 ml), which efforts shall
include the allocation of efforts and resources consistent with the resources
allocated by BioMarin Acquisition to the development, marketing,
commercialization and sale of other in development products of BioMarin
Acquisition with comparable commercial opportunity in the marketplace.
Notwithstanding the foregoing, if the

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total of (x) the actual amount under Section 2.3(b)(i) minus (y) the actual
amount under Section 2.3(b)(ii) exceeds $35,000,000 for each Reporting Year,
then BioMarin Acquisition shall be deemed to have satisfied all of its
obligations set forth in this Section 2.4.

      2.5   RIGHT TO REFERENCE ANDA. Subject to the terms and conditions of this
Agreement and for the License Term, BioMarin Acquisition and its Affiliates and
their sublicensees shall have an unrestricted right of reference to the ANDA
listed on Schedule 2.5 and any Subsequent ANDA. Within ten (10) Business Days of
the Effective Date, BioMarin Acquisition and Ascent shall each notify the FDA
that BioMarin Acquisition shall act as regulatory agent for the ANDA. During the
License Term, BioMarin Acquisition shall act as regulatory agent for the ANDA
and Subsequent ANDAs, and during the License Term BioMarin Acquisition shall
timely comply with all requirements under 21 CFR Part 203 (Prescription Drug
Marketing Act), 21 CFR Part 314.70 (Supplements and Other Changes to an Approved
Application), 21 CFR Part 314.80 (Post-Marketing Reporting of Adverse Drug
Experiences) and 21 CFR Part 314.81 (Other Post-Marketing Reports). During the
License Term, BioMarin Acquisition shall comply in all material respects with
all Legal Requirements, including but not limited to 21 CFR Part 211 (Current
Good Manufacturing Practices). BioMarin Acquisition shall assume responsibility
for all FDA regulatory matters for products marketed under the ANDA and each
Subsequent ANDA and BioMarin Acquisition and Ascent shall each send a letter to
the FDA informing the FDA that BioMarin Acquisition has assumed such
responsibility. Ascent shall provide BioMarin with all assistance and data,
reports and other information reasonably requested by BioMarin Acquisition to
assume such responsibilities.

      2.6   REGULATORY. During the License Term, BioMarin Acquisition shall
maintain, at a location in the United States, complete and accurate books and
records in sufficient detail as necessary for both BioMarin Acquisition and
Ascent to meet their respective filing and other obligations with the FDA and
any other applicable Governmental Body. BioMarin Acquisition shall provide to
Ascent timely copies of all submissions to the FDA, including but not limited
to, annual reports and adverse event reports. Not more than once per year and at
such additional times as may be reasonably required to respond to FDA
communications, upon not less than five (5) Business Days' written notice to
BioMarin Acquisition, Ascent shall have the right to review, at its expense,
inspect, audit and make copies of any such books and records for purposes of
verifying BioMarin Acquisition's compliance with Sections 2.5 through 2.7.
During the License Term, Ascent shall maintain, at a location in the United
States, complete and accurate books and records related to ORAPRED(R) in
existence as of the Effective Date and all other information related to
regulatory filings provided by BioMarin Acquisition to Ascent pursuant to this
Section 2.6.

      2.7   ADVERSE REACTIONS. The parties' obligations relating to reporting
Adverse Events shall be as set forth in the Transition Services Agreement by and
among the parties hereto, dated as of the Effective Date.

3.    TRANSFER AND TRANSFER SUPPORT

      3.1   CHANGE OF PARTY NAMES AND PROMOTIONAL MATERIALS.

                                      -11-
<PAGE>

            (a)   As soon as reasonably practicable following the Effective
Date, but no later than ten (10) Business Days following the Effective Date,
BioMarin Acquisition, at its own expense, shall: (i) with Ascent's reasonable
cooperation and assistance, notify the FDA that BioMarin Acquisition is the
marketer and distributor of ORAPRED(R); and (ii) use commercially reasonable
efforts to commence taking any and all action necessary to change the National
Drug Code number for ORAPRED(R).

            (b)   As soon as reasonably practicable, but no later than ten (10)
Business Days following the Effective Date, BioMarin Acquisition and Ascent
shall jointly notify the current manufacturers of ORAPRED(R), and any components
thereof, the contents of which notification shall be mutually agreed upon, that
all package inserts, labeling, and any components thereof, and packaging related
thereto to be manufactured or ordered after the Effective Date, must be changed
to identify BioMarin Acquisition as the marketer in the United States. BioMarin
Acquisition shall use commercially reasonable efforts to ensure that such change
takes effect for any new orders of ORAPRED(R), or components thereof, following
the date that is twenty (20) Business Days following the Effective Date.

            (c)   Notwithstanding the foregoing, except as may be required by
applicable law or the FDA, BioMarin Acquisition shall not be required by Ascent
to change the labeling on any Product Inventory purchased by BioMarin
Acquisition from Ascent or any components manufactured or being manufactured
pursuant to purchase orders placed within thirty (30) calendar days following
the Effective Date.

      3.2   ADVERTISING AND PROMOTIONAL MATERIALS.

            (a)   As of the Effective Date: (i) BioMarin Acquisition shall be
responsible for development of all new advertising and promotional materials
related to the Licensed Products, all in compliance with all applicable
regulatory agencies and other rules and regulations; and (ii) neither BioMarin
Acquisition nor its Affiliates shall use any promotional and marketing materials
with the corporate identifiers or trade names of Medicis.

            (b)   Within ten (10) Business Days following the Effective Date,
BioMarin Acquisition and Ascent each shall submit a letter to the DDMAC division
of FDA informing them that BioMarin Acquisition will be the new distributor of
ORAPRED(R) in the United States under license from Ascent and designating
BioMarin Acquisition as the contact for review and discussion of all promotional
materials related to ORAPRED(R) in the United States, after which time BioMarin
Acquisition will timely file with the appropriate regulatory agency, in
accordance with all applicable laws and regulations, all promotional materials
for ORAPRED(R) required to be filed with such agency.

      3.3   TECHNOLOGY TRANSFER. As of the Effective Date, Ascent shall deliver
copies of Materials embodying the Product Know How to BioMarin Acquisition. No
later than five (5) Business Days after the Effective Date, Ascent shall deliver
copies of Materials embodying the Development Know How to BioMarin Acquisition.

      3.4   TECHNOLOGY TRANSFER SUPPORT. Ascent Technical Assistance shall be
provided as set forth in the Transition Services Agreement

                                      -12-
<PAGE>

      3.5   TRADEMARK USE AND QUALITY CONTROL. During the License Term, BioMarin
Acquisition agrees and acknowledges that: (a) neither Licensee nor its
Affiliates shall have any interest, right, or title in the Licensed Trademarks
other than the License; (b) neither Licensee nor its Affiliates shall obtain any
rights in or to the Licensed Trademarks through Licensee's or its Affiliate's
use in connection with the Licensed Products; (c) Ascent or its Affiliates, as
the case may be, is and will continue to be the sole and exclusive owner of all
right, title and interest in and to each Licensed Trademarks in any form or
embodiment thereof; (d) all goodwill associated with or attached to the Licensed
Trademarks arising out of the use thereof by Licensee and its Affiliates shall
inure to the benefit of Ascent or its Affiliate, as applicable; and (e) the
quality of the goods provided by Licensee under the Licensed Trademarks shall
conform to applicable FDA standards for the applicable goods and shall be
subject to a once a year independent third party inspection, upon reasonable
notice to Licensee, of such goods upon which Licensed Trademarks appear. During
the License Term, Licensee shall furnish at Licensee's expense samples of
packaging materials and other materials bearing the Licensed Trademarks for
inspection and analysis as Ascent may reasonably request.

      3.6   NO CONTEST. During the License Term, Licensee agrees that neither
Licensee nor its Affiliates will: (i) contest, oppose or challenge, or assist
any party in contesting, opposing or challenging, Ascent's or its Affiliate's
ownership of the applicable Licensed Trademarks or the distinctiveness or
validity of the applicable Licensed Trademarks; (ii) at any time do or suffer to
be done any act or thing that will in any way impair Ascent's or its Affiliate's
ownership of or rights in and to the applicable Licensed Trademarks or any
registration thereof; (iii) register or attempt to register any applicable
Licensed Trademark in any jurisdiction; or (iv) oppose Ascent's or its
Affiliate's registration of any applicable Licensed Trademark, alone or with
other words or designs, in any jurisdiction. Upon the reasonable request of
Ascent or its Affiliate, Licensee shall give Ascent or its Affiliate or an
authorized Representative thereof all necessary information as to the use of the
applicable Licensed Trademarks pursuant to this Agreement which Ascent or its
Affiliate may reasonably require and will render any assistance reasonably
required by Ascent or its Affiliate in maintaining the registrations of the
applicable Licensed Trademarks.

      3.7   USE OF THE LICENSED TRADEMARKS. Licensee agrees to comply in all
material respects with all applicable laws and regulations pertaining to the
proper use and designation of the Licensed Trademarks. Additionally, during the
License Term, Licensee shall use commercially reasonable efforts to:

            (a)   use the Licensed Trademarks upon or in relation to the
Licensed Products only in such manner that the distinctiveness, reputation, and
validity of the Licensed Trademarks shall not be impaired. Without prejudice to
the generality of the foregoing, Licensee shall ensure in particular that each
Licensed Trademark is accompanied by words accurately describing the nature of
the goods or services to which it relates, and ensure that each Licensed
Trademark is displayed in accordance with Ascent's guidelines, which are
attached hereto as Schedule 3.7(a);

            (b)   display the proper form of trademark and service mark notice
associated with the Licensed Trademarks; and

                                      -13-
<PAGE>

            (c)   neither use nor display any of the Licensed Trademarks other
than the "ASCENT" mark or the Ascent "People Logo" (U.S. Registration No.
2,510,806) in such relation to any other mark or trademarks owned by any third
party or Licensee or its Affiliates as to suggest that the multiple Trademarks
constitute a single or composite trademark, service mark, or are under the same
proprietorship.

      3.8   MAINTAINING REGISTRATIONS. Licensee shall reimburse Ascent for all
expenses reasonably incurred by Ascent or its Affiliate, during the License
Term, in connection with maintenance of those Licensed Trademarks which are
registered as of the Effective Date, including, but not limited to, filing all
necessary maintenance and use documents, applying for renewal, and payment of
any required periodic taxes or fees due in connection with such registrations.
Ascent and its Affiliates shall not allow such Licensed Trademark registrations
to lapse during the License Term, without the consent of Licensee. During the
License Term, Ascent or its Affiliate, as applicable, shall execute any required
documents, provide upon reasonable request any required records, and otherwise
reasonably cooperate fully with Licensee as may be necessary to accomplish the
recordation of the License in any jurisdiction within the Territory that
Licensee seeks such recordation. In such event, the expenses for recordation
will be borne by Licensee. At any time during the License Term Licensee shall
execute any documents as shall be reasonably required by Ascent or its Affiliate
to confirm Ascent's or its Affiliate's ownership of the Licensed Trademarks or
to otherwise give effect to the provisions of this Article 3. Licensee
acknowledges that the PEDIATUDE mark, Registration No. 2,153,138, will lapse
effective April 21, 2004, if the United States Patent and Trademark Office does
not accept specimens of use filed on or before such date.

      3.9   FILING OF NEW REGISTRATIONS. At Licensee's expense, Ascent, its
Affiliate or outside trademark counsel selected by Ascent shall: (a) file
additional trademark registration applications and related documents relating to
the Licensed Trademarks at the written request of the Licensee; (b) promptly
inform Licensee of communications from applicable trademark agencies; and (c)
timely file Licensee's responses to the communications from such trademark
agencies. Ascent shall ensure that each filing described in clauses (a) and (c)
above is submitted to the relevant trademark agency within fifteen (15) Business
Days, or within ten (10) Business Days in the case of all submissions related to
new applications, after the receipt by Ascent, its Affiliate or outside
trademark counsel, as the case may be, of all information and documentation
sufficient to make such filing. Licensor acknowledges and permits Licensee's
expansion of the scope of goods covered by the Licensed Trademarks. All rights,
including goodwill, acquired in such expansion shall vest in Licensor and shall
be deemed part of the Licensed Trademarks.

      3.10  ENFORCEMENT OF LICENSED TRADEMARKS.

            (a)   During the License Term, if either Party or its Affiliates
becomes aware of actual or threatened infringement of any Licensed Trademark or
of a mark or name confusingly similar to any Licensed Trademark, including
without limitation by publication of a mark for opposition, such Party or its
Affiliates shall promptly so notify the other Party in writing. BioMarin
Acquisition or its Affiliates shall have the first right, but not the
obligation, to enforce such Licensed Trademarks, including the right to bring
opposition, infringement or unfair competition actions involving a Licensed Mark
in the Territory at BioMarin Acquisition's expense, provided that Ascent shall
have the right to participate in such actions at Ascent's

                                      -14-
<PAGE>

expense. If Ascent participates in any such action, BioMarin Acquisition or its
Affiliates shall have sole control of the conduct of any such action which it
brings, provided that Ascent shall have the right to provide ongoing comments
and advice regarding its position in such action, which comments shall be
considered in good faith by BioMarin Acquisition. Ascent or its Affiliates
shall, at the request and expense of BioMarin Acquisition or its Affiliates,
cooperate and provide reasonable assistance in any action described in this
Section and, if required by law, join such action. Any recovery or compensation
resulting from such proceeding, including without limitation non-monetary
rights, shall belong entirely to BioMarin Acquisition or its Affiliates less
reimbursement to Ascent by BioMarin Acquisition or its Affiliates of any
reasonable costs incurred by Ascent as a result of its participation in such
action regardless of whether Ascent participated on its own or was joined in the
action by BioMarin Acquisition. BioMarin Acquisition and its Affiliates shall
not settle or accept any settlement from any third party without the prior
written consent of Ascent, which consent shall not be unreasonably withheld or
delayed.

            (b)   During the License Term, if (i) BioMarin Acquisition or its
Affiliates fail to take action against such threatened or actual infringement
within a reasonable period of no longer than sixty (60) calendar days from the
date of receipt of written notice from Ascent or its Affiliates, and (ii) within
such period of time, and no later than five (5) Business Days prior to the
applicable deadline, BioMarin Acquisition or its Affiliates has not provided a
commercially reasonable position for failing to take such action, Ascent or its
Affiliates may thereafter take such action as it deems necessary to enforce its
rights in and to the Licensed Trademark, including, without limitation, the
right, but not the obligation, to bring, at its own expense, an infringement
action or file any other appropriate action or claim related to infringement of
the Licensed Trademark against any third party. BioMarin Acquisition or its
Affiliates shall, at the request and expense of Ascent or its Affiliates,
cooperate and provide reasonable assistance in any action described in this
Section and, if required by law, join such action. In such events, the expenses
for enforcement will be borne by Ascent or its Affiliates, and any recovery or
compensation resulting from such proceeding, including without limitation
non-monetary rights, shall belong entirely to Ascent or its Affiliates. Ascent
and its Affiliates shall not settle or accept any settlement from any third
party without the prior written consent of BioMarin Acquisition, which consent
shall not be unreasonably withheld or delayed.

      3.11  THIRD PARTY TRADEMARK LITIGATION.

            (a)   During the License Term, in the event of (i) the initiation of
any suit by a third party against Ascent or BioMarin Acquisition for trademark
infringement involving the manufacture, use, sale, promotion or marketing of the
Licensed Products in the Territory, or (ii) the institution of a trademark
opposition, the Party sued or given notice of opposition shall promptly notify
the other Party in writing, and BioMarin Acquisition shall have the right to
defend such suit or opposition at its expense and BioMarin Acquisition shall
provide Ascent with notice of its intent to defend or not defend such suit or
opposition, provided that Ascent shall have the right to participate in such
action at Ascent's expense. If Ascent participates in such action, BioMarin
Acquisition or its Affiliate shall have sole control of the conduct of any such
action, provided that Ascent shall have the right to provide ongoing comments
and advice regarding its position in such action, which comments shall be
considered in good faith by BioMarin Acquisition. Ascent or its Affiliate shall,
at the request and expense of BioMarin

                                      -15-
<PAGE>

Acquisition or its Affiliate, cooperate and provide reasonable assistance in any
action described in this Section and, if required by law, join such action. Any
recovery or compensation resulting from such proceeding, including without
limitation non-monetary rights, shall belong entirely to BioMarin Acquisition or
its Affiliate less reimbursement to Ascent or its Affiliates by BioMarin
Acquisition or its Affiliate of any reasonable costs incurred by Ascent or its
Affiliates as a result of its participation in such action regardless of whether
Ascent or its Affiliates participated on its own or was joined in the action.
BioMarin Acquisition and its Affiliates shall not settle or accept any
settlement from any third party without the prior written consent of Ascent,
which consent shall not be unreasonably withheld or delayed.

            (b)   During the License Term, if (i) BioMarin Acquisition or its
Affiliate fails to defend such suit or opposition within a reasonable period of
no longer than thirty (30) calendar days from the date of receipt of written
notice regarding the suit or opposition, or no later than five (5) Business Days
prior to the applicable deadline, and (ii) within such period of time, BioMarin
Acquisition or its Affiliate has not provided a commercially reasonable argument
for failing to defend such suit, Ascent or its Affiliate may thereafter take
such action as it deems necessary to defend and/or enforce its rights,
including, without limitation, the right, but not the obligation, to bring, at
its own expense, an infringement action or file any other appropriate action or
claim related to infringement against any third party and Ascent or its
Affiliate. BioMarin Acquisition or its Affiliate shall, at the request and
expense of Ascent or its Affiliate, cooperate and provide reasonable assistance
in any action described in this Section and, if required by law, join such
action. In such events, the expenses for enforcement will be borne by Ascent or
its Affiliate, and any recovery or compensation resulting from such proceeding,
including without limitation non-monetary rights, shall belong entirely to
Ascent or its Affiliate. Ascent and its Affiliates shall not settle or accept
any settlement from any third party without the prior written consent of
BioMarin Acquisition, which consent shall not be unreasonably withheld or
delayed.

4.    CONSIDERATION

      4.1   LICENSE PAYMENTS. Subject to the terms and conditions set forth
herein and in consideration for the grant of the License and the license granted
under Section 2.1(b), BioMarin Acquisition shall pay to Ascent the License
Payments and Contingent Payments Reimbursement Payments as set forth below. The
Contingent Payments Reimbursement Payments are intended to be a reimbursement to
Ascent for the contingent payments due to the former shareholders of Ascent
pursuant to the Ascent Merger Agreement. The parties agree that the prompt
payment of the License Payments are royalty payments as that term is used in
Section 365(n)(2)(B) of the U.S. Bankruptcy Code.

            (a)   The License Payments shall total, in the aggregate, $93
million, and shall be paid as royalties as follows:

                  (i)   Ten Million Dollars ($10,000,000) (the "CLOSING LICENSE
PAYMENT"), payable at the Closing;

                  (ii)  Fifty Million Dollars ($50,000,000) in four quarterly
installments of Twelve Million Five Hundred Thousand Dollars ($12,500,000) (each
a "FIRST YEAR QUARTERLY

                                      -16-
<PAGE>

LICENSE PAYMENT"), with one such installment payable on each of August 16, 2004,
November 16, 2004, February 16, 2005 and May 16, 2005 (each, a "FIRST YEAR
QUARTERLY PAYMENT DATE");

                  (iii) Ten Million Dollars ($10,000,000) in four quarterly
installments of Two Million Five Hundred Thousand Dollars ($2,500,000) (each a
"SECOND YEAR QUARTERLY LICENSE PAYMENT"), with one such installment payable on
each of August 16, 2005, November 16, 2005, February 16, 2006 and May 16, 2006;

                  (iv)  Sixteen Million Dollars ($16,000,000) in eight quarterly
installments of Two Million Dollars ($2,000,000) (each a "THIRD AND FOURTH YEAR
QUARTERLY LICENSE PAYMENT"), with one such installment payable on each of August
16, 2006, November 16, 2006, February 16, 2007, May 16, 2007, August 16, 2007,
November 16, 2007, February 18, 2008 and May 16, 2008; and

                  (v)   Seven Million Dollars ($7,000,000) in four quarterly
installments of One Million Seven Hundred Fifty Thousand Dollars ($1,750,000)
(each a "FIFTH YEAR QUARTERLY LICENSE PAYMENT"), with one such installment
payable on each of August 18, 2008, November 17, 2008, February 17, 2009 and May
18, 2009.

            (b)   The Contingent Payments Reimbursement Payments shall total, in
the aggregate, $15 million, and shall be paid as follows:

                  (i)   Fifteen Million Dollars ($15,000,000) in six quarterly
installments of Two Million Five Hundred Thousand Dollars ($2,500,000) (each a
"QUARTERLY CONTINGENT PAYMENTS REIMBURSEMENT PAYMENT"), with one such
installment payable on each of August 16, 2004, November 16, 2004, February 16,
2005, May 16, 2005, August 16, 2005 and November 16, 2005.

            (c)   As security for the payment of the First Year Quarterly
License Payments, BioMarin Acquisition agrees to deposit the Cash Deposit and
BioMarin agrees to deposit the Share Deposit on the Effective Date with the
Escrow Agent pursuant to the terms and conditions of the Escrow Agreement.
Pursuant to the Escrow Agreement, BioMarin may be required to deposit additional
BioMarin Shares with the Escrow Agent. The Cash Deposit and the Share Deposit
(and such additional BioMarin Shares as BioMarin may be required to deposit with
the Escrow Agent in accordance with the Escrow Agreement) and all interest
thereon shall be released by the Escrow Agent in accordance with the Escrow
Agreement.

      4.2   LOSS OF EXCLUSIVITY. In addition to the rights of Ascent pursuant to
Section 11.2(a), in the event that BioMarin Acquisition fails to timely make any
License Payment or Contingent Payments Reimbursement Payment, and such failure
to pay is not cured within fifteen (15) Business Days of the due date thereof,
the License granted herein shall automatically become non-exclusive as to
Medicis and its Affiliates or sublicensees and the noncompetition provision of
Section 6.2 hereof shall be of no further force and effect (except as shall be
waived by Ascent so long as all outstanding payments have been made by BioMarin
Acquisition, all interest has been paid thereon and Ascent has not licensed the
Licensed Assets to any third party). If BioMarin Acquisition fails to timely
make any payment due to Ascent under this Agreement, and such failure to pay is
not cured within three (3) Business Days of the due date

                                      -17-
<PAGE>

thereof, then interest shall accrue on a daily basis at the lesser of: (a) an
annual rate equal to two percent (2%) above the reference rate of CitiBank,
N.A., San Francisco, California, for the date that such payment was due; and (b)
the maximum rate permitted by applicable law.

5.    IMPROVEMENTS; DISCLOSURE OF IMPROVEMENTS

      5.1   IMPROVEMENTS BY BIOMARIN ACQUISITION. Any and all Improvements
during the License Term shall be the responsibility (financial and otherwise) of
BioMarin Acquisition and shall be the property of Ascent and, to the extent
filed with the United States Patent and Trademark Office or other Governmental
Body, shall be filed in the name of Ascent; provided, however, that such
Improvements shall be included in the Licensed Technology or Licensed
Development Technology, as applicable, without additional charge to BioMarin
Acquisition. BioMarin Acquisition shall disclose such Improvements to Ascent
pursuant to Section 5.2 below.

      5.2   DISCLOSURE. During the License Term, BioMarin Acquisition shall
promptly disclose to Ascent any Improvements. Regarding each such Improvement,
BioMarin Acquisition shall:

            (a)   Advise Ascent within sixty (60) days of BioMarin Acquisition's
receipt from an employee or third party of an invention disclosure for such
Improvement;

            (b)   Permit Ascent's or its Affiliates' employees (and/or technical
consultants who have signed a confidentiality agreement at least as restrictive
as the CDA) to make such inspections of such Improvement as are reasonably
acceptable to BioMarin Acquisition, at reasonable times and at Ascent's expense;

            (c)   Have BioMarin Acquisition's or BioMarin's employees
experienced in technical data relating to such Improvement impart to Ascent's
employees (and/or technical consultants) at reasonable times and at Ascent's
expense, information relative to such Improvement;

            (d)   Furnish Ascent with copies of drawings, schematics and other
available technical data relative to the raw materials and equipment developed
for or found suitable for use in such Improvement; and

            (e)   Furnish Ascent with copies of papers, documents and
correspondence filed in or received from, the United States Patent and Trademark
Office or other Governmental Body pertaining to those Patents or regulatory
approvals that cover any aspect of such Improvement.

6.    CONFIDENTIALITY AND NONCOMPETITION

      6.1   CONFIDENTIALITY. The CDA is hereby incorporated by reference.

      6.2   NONCOMPETITION. Each of Medicis and Ascent agrees that, in
consideration of the consummation of the transactions by BioMarin Acquisition
hereunder, it shall not and shall cause its Subsidiaries not to, at any time
during the License Term, (whether acting alone or as a member of an Entity, and
whether as an advisor, principal, consultant, independent contractor, agent,
partner, employee, officer, director, 5% or greater equityholder or otherwise),
anywhere in

                                      -18-
<PAGE>

the world, (a) engage in, own, operate, maintain or finance directly or
indirectly any business or other enterprise engaged in the development,
distribution, sale or commercialization of an oral liquid prednisolone sodium
solution or oral dissolving tablet prednisolone product other than the
ownership, operation and maintenance of the Licensed Assets or the Secondary
ANDA as contemplated under the Supply Agreement, provided, however, that neither
Ascent nor Medicis shall make, manufacture, market, sell, distribute, or develop
any product under the Secondary ANDA, or (b) other than the transactions
contemplated by this Agreement, the Securities Purchase Agreement, the Asset
Purchase Agreement, the Transition Services Agreement, the Supply Agreement or
the Lyne License, take any action that is designed or intended or would
reasonably be expected to have the effect of discouraging any customer,
supplier, lessor, licensor or other business associate of the Pediatrics
Business from maintaining a business relationship with BioMarin Acquisition
after the Effective Date as it maintained with the Pediatrics Business prior to
the Effective Date; provided, further, that Medicis may continue to own the
outstanding stock of Ascent and Ascent may continue to own the Licensed Assets
and all rights necessary to perform its obligations under the Lyne License, the
Transition Services Agreement and the Supply Agreement; provided further that,
notwithstanding the foregoing, (a) Medicis may enter into a transaction or
series of transactions that involves the acquisition by Medicis of another
Entity whose activities, but for this proviso would violate this Section 6.2 so
long as such activities are not primary but are merely ancillary to such
Entity's activities so long as Medicis terminates or divests such activities
within a reasonable period of time following such acquisition not to exceed 180
days, and (b) Medicis may be acquired by merger with another Entity, where the
stockholders of Medicis immediately prior to the merger own less than 50% of the
surviving entity, whose activities, but for this proviso, would violate this
Section 6.2. If the final judgment of a court of competent jurisdiction declares
that any term or provision of this Section 6.2 is invalid or unenforceable, the
parties agree that the court making such determination of invalidity or
unenforceability shall have the power to reduce the scope, duration or area of
the term or provision, to delete specific words or phrases, or to replace any
invalid or unenforceable term or provision with a term or provision that is
valid and enforceable and that comes closest to expressing the intention of the
invalid or unenforceable term or provision, and this Agreement shall be
enforceable as so modified after the expiration of the time within which the
judgment may be appealed.

7.    REPRESENTATIONS AND WARRANTIES OF ASCENT.

      Ascent hereby represents and warrants, to and for the benefit of BioMarin
Acquisition, that each of the following representations and warranties is true
and correct as of the Effective Date:

      7.1   AUTHORITY; BINDING NATURE OF AGREEMENTS. Each of Ascent and Medicis
has all corporate power and authority to enter into and to perform its
obligations under this Agreement. The execution, delivery and performance by
each of Ascent and Medicis of this Agreement have been duly authorized by all
necessary action on the part of Ascent and Medicis and their stockholders,
boards of directors and officers. This Agreement, assuming the due
authorization, execution and delivery by the other parties hereto, constitutes
the legal, valid and binding obligation of Ascent or Medicis, as applicable,
enforceable against Ascent or Medicis, as applicable, in accordance with its
terms, subject to the effect of any applicable bankruptcy,

                                      -19-
<PAGE>

insolvency, reorganization, moratorium or similar laws now or hereinafter in
effect relating to creditors' rights generally or to general principles of
equity (the "ENFORCEABILITY EXCEPTION").

      7.2   TITLE TO ASSETS.

            (a)   Ascent has good and valid title to all of the Licensed
Trademarks, Licensed Technology and Licensed Development Technology. Except as
identified in Schedule 7.2, none of the Licensed Technology, Licensed Trademarks
or Licensed Development Technology is subject to any Encumbrance (including any
tax-related Encumbrance), other than the Lyne License, the Supply Agreement, the
Security Agreement, and any Permitted Liens.

            (b)   Ascent and/or its Affiliates has good and valid title to the
Dual Use Know How.

      7.3   REGULATORY MATTERS. Ascent has not been debarred and is not subject
to debarment and will not use in any capacity, in connection with the
obligations to be performed under this Agreement, any person who has been
debarred pursuant to section 306 of the FDCA, 21 U.S.C. 335a, or who is the
subject of a conviction described in such section or who undergoes any analogous
proceeding under foreign law.

      7.4   INTELLECTUAL PROPERTY.

            (a)   Ascent is the sole and exclusive owner or has the authority to
license and/or sell the Licensed Technology, Licensed Development Technology,
and Licensed Trademarks;

            (b)   Except as identified in Schedule 7.2, Ascent has the right,
power and authority to grant licenses under the Licensed Trademarks, Licensed
Development Technology, and Licensed Technology to BioMarin Acquisition in
accordance with the terms and conditions of this Agreement, free and clear of
any Encumbrances, other than the Lyne License, the Supply Agreement, Permitted
Liens and the Security Agreement;

            (c)   Ascent has not specifically admitted that any claim of an
issued and unexpired patent or pending patent application included within the
Taste Masking Related Licensed Patents is invalid or unenforceable through
reissue or disclaimer (other than to the extent that any terminal disclaimer has
been filed);

            (d)   Except as identified in Schedule 7.4(d), (i) neither Ascent
nor its Affiliates have taken any action that materially and adversely affects
the rights and licenses granted to BioMarin Acquisition under this Agreement,
and (ii) neither Ascent nor its Affiliates have granted to any third party or
Affiliate any rights or licenses that conflict with or materially and adversely
affect the rights and licenses granted to BioMarin Acquisition under this
Agreement,

            (e)   to the Knowledge of Ascent and Medicis, the issued Taste
Masking Related Licensed Patents are valid and enforceable and the manufacture,
development, marketing, distribution, importation, sale, offer for sale,
disposition or use of ORAPRED(R) as carried out by Ascent or its Affiliates
immediately prior to the Effective Date does not and will not infringe any
patent rights, trade secrets or other industrial or intellectual property rights
of

                                      -20-
<PAGE>

any third party or Affiliate of Ascent, excluding any Medicis corporate
identifier or mark used therewith;

            (f)   to the Knowledge of Ascent and Medicis, (i) no issued patent
or patent application within the Taste Masking Related Licensed Patents or (ii)
except as identified in Schedule 7.2, Licensed Trademark is involved in or is
threatened to be involved in, any court proceeding, arbitration, interference,
reissue, re-examination or opposition;

            (g)   except as identified in Schedule 7.2, there are no claims,
judgments or settlements, either actual or, to the Knowledge of Ascent and
Medicis, threatened, relating to the Taste Masking Related Licensed Patents,
Licensed Trademarks and/or the Product Know-How;

            (h)   except as identified in Schedule 7.2, since November 15, 2001,
to the Knowledge of Ascent and Medicis, no Person has infringed or
misappropriated, and no Person is currently infringing or misappropriating, any
Licensed Technology or Licensed Trademark;

            (i)   except as identified in Schedule 7.4(i), to the Knowledge of
Ascent and Medicis, all filings and registrations related to the Licensed
Trademarks are in good standing and all maintenance and renewal fees necessary
to preserve the rights of Ascent in respect of the Licensed Trademarks have been
paid;

            (j)   to the Knowledge of Ascent and Medicis, since November 15,
2001, (a) there has been no misappropriation of any material trade secrets used
in connection with the Pediatrics Business, (b) no current employee, independent
contractor or agent of Ascent or Medicis employed in the Pediatrics Business has
misappropriated any material trade secrets of any other Person in the course of
the performance of its duties as an employee, independent contractor or agent of
Ascent or Medicis employed in the Pediatrics Business, and (c) no current
employee, independent contractor or agent of Ascent or Medicis is in default or
breach of any non-disclosure agreement, assignment of invention agreement or
similar agreement or contract regarding the protection, ownership, development,
use or transfer of the Licensed Technology;

            (k)   Ascent has taken reasonable steps in accordance with normal
industry practice to maintain the confidentiality of its material trade secrets
related to the Pediatrics Business; and

            (l)   Each current employee and current independent contractor of
Ascent or Medicis who contributed to the conception or development of the Taste
Masking Related Licensed Patents and Development Patents has executed a valid
and binding assignment to Ascent or Medicis of all rights they may hold therein.

      7.5   INVESTMENT REPRESENTATIONS REGARDING ASCENT. To the extent that
Ascent acquires BioMarin Shares subject to the Share Deposit:

            (a)   Ascent will acquire such BioMarin Shares for investment
purposes, for its own account and not as nominee or agent for any other Person
and not with a view to or for resale in connection with any distribution thereof
within the meaning of the Securities Act.

                                      -21-
<PAGE>

            (b)   Ascent knows of no public solicitation or advertisement of an
offer in connection with such BioMarin Shares.

            (c)   Ascent has had the opportunity to ask questions of and receive
answers from BioMarin concerning the terms and conditions of the BioMarin Shares
subject to the Share Deposit. Ascent has received all information that it has
requested regarding BioMarin and believes that such information is sufficient to
make an informed decision with respect to the acquisition of the BioMarin
Shares.

            (d)   Ascent is able to bear the economic risk of its investment in
the BioMarin Shares and has such knowledge and experience in financial and
business matters that it is capable of evaluating the merits and risks of and
protecting its interests with respect to its investment in the BioMarin Shares.
Ascent is aware of the risk involved in its investment in the BioMarin Shares
and has determined that such investment is suitable for Ascent in light of its
financial circumstances and available investment opportunities.

            (e)   On the date hereof Ascent is, and on the date or dates that
Ascent acquires any BioMarin Shares subject to the Share Deposit, Ascent will be
an "accredited investor" as that term is defined in Rule 501 of Regulation D
promulgated under the Securities Act.

            (f)   Ascent hereby further agrees with BioMarin that the
instruments or certificates evidencing such BioMarin Shares and each instrument
or certificate issued in transfer thereof will bear the following legend:

            "The securities evidenced by this certificate have not been
            registered under the Securities Act of 1933 and have been taken for
            investment purposes only and not with a view to the distribution
            thereof, and, except as stated in an agreement between the holder of
            this certificate or its predecessor in interest, and the issuer
            corporation, such securities may not be sold or transferred unless
            there is an effective registration statement under such Act covering
            such securities or the issuer corporation receives an opinion, in
            form and content reasonably satisfactory to the issuer corporation,
            of counsel reasonably acceptable to the issuer corporation (which
            may be counsel for the issuer corporation) stating that such sale or
            transfer is exempt from the registration and prospectus delivery
            requirements of such Act."

            (g)   The instruments or certificates representing the BioMarin
Shares and each instrument or certificate issued in transfer thereof will also
bear any legend required under any applicable state securities law.

            (h)   Prior to any proposed sale, assignment, transfer or pledge of
any of the BioMarin Shares by Ascent, unless there is in effect a registration
statement under the Securities Act covering the proposed transfer, Ascent shall
give written notice to BioMarin of Ascent's intention to effect such transfer,
sale, assignment or pledge. Each such notice shall describe the manner and
circumstances of the proposed transfer, sale, assignment or pledge in sufficient
detail and shall be accompanied, at Ascent's expense, by an unqualified written
opinion of legal

                                      -22-
<PAGE>

counsel, who shall and whose legal opinion shall be reasonably satisfactory to
BioMarin (which may be counsel for BioMarin), addressed to BioMarin, to the
effect that the proposed transfer of the Share Deposit may be effected without
registration under the Securities Act, whereupon Ascent shall be entitled to
transfer such Share Deposit in accordance with the terms of the notice delivered
by Ascent to BioMarin.

            (i)   Ascent consents to BioMarin's making a notation on its records
or giving instructions to any transfer agent of the BioMarin Shares in order to
implement the restrictions on transfer of the Share Deposit.

            (j)   Ascent is aware that the Share Deposit Shares are being issued
and sold in reliance on an exemption from the registration requirements of the
Securities Act and that such exemption is expressly conditioned on the accuracy
of the representations and warranties contained in this Section 7.5.

            (k)   Ascent is not a company established solely to acquire the
BioMarin Shares.

8.    REPRESENTATIONS AND WARRANTIES OF BIOMARIN AND BIOMARIN ACQUISITION.

      Each of BioMarin and BioMarin Acquisition represents and warrants jointly
and severally, to and for the benefit of Ascent, that each of the following
representations and warranties is true and correct as of the Effective Date.

      8.1   AUTHORITY; BINDING NATURE OF AGREEMENTS. Each of BioMarin and
BioMarin Acquisition has the corporate power and authority to enter into and
perform its obligations under this Agreement, and the execution and delivery by
each of BioMarin and BioMarin Acquisition of this Agreement has been duly
authorized by all necessary action on the part of each of BioMarin and BioMarin
Acquisition and its stockholders, board of directors and officers. This
Agreement, assuming the due authorization, execution and delivery by the other
Parties hereto, constitutes the legal, valid and binding obligation of each of
BioMarin and BioMarin Acquisition, enforceable against it in accordance with its
terms, subject to the Enforceability Exception.

      8.2   REGULATORY MATTERS. BioMarin has not been debarred and is not
subject to debarment and will not use in any capacity, in connection with the
obligations to be performed under this Agreement, any person who has been
debarred pursuant to section 306 of the FDCA, 21 U.S.C. 335a, or who is the
subject of a conviction described in such section or who undergoes any analogous
proceeding under foreign law.

9.    REGISTRATION OF SHARES.

      9.1   REGISTRATION. On or before the thirtieth day following the Effective
Date, BioMarin shall prepare and file a registration statement on Form S-3 under
the Securities Act, covering the Share Deposit (the "RESTRICTED STOCK") and
shall use its best efforts to cause such registration statement to become
effective as expeditiously as possible and to remain effective until the
earliest to occur of (i) the date the Restricted Stock covered thereby has been
sold (but

                                      -23-
<PAGE>

in any event not before the expiration of any longer period required under the
Securities Act) or (ii) the date by which all Restricted Stock covered thereby
may be sold under Rule 144 without restriction as to volume.

      9.2   SUSPENSION. Following the effectiveness of a registration statement
filed pursuant to this section, BioMarin may, at any time, suspend the
effectiveness of such registration for up to thirty (30) days, as appropriate (a
"SUSPENSION PERIOD"), by giving notice to Ascent (for the purposes of this
Article 9, the "HOLDER"), if BioMarin shall have determined that BioMarin may be
required to disclose any material corporate development. Notwithstanding the
foregoing, no more than two Suspension Periods may occur during any twelve-month
period. BioMarin shall use its best efforts to limit the duration and number of
any Suspension Periods. The Holder agrees that, upon receipt of any notice from
BioMarin of a Suspension Period, the Holder shall forthwith discontinue
disposition of Restricted Stock pursuant to such registration statement or
prospectus until the earlier of (A) the Holder (i) is advised in writing by
BioMarin that the use of the applicable prospectus may be resumed, (ii) has
received copies of a supplemental or amended prospectus, if applicable, and
(iii) has received copies of any additional or supplemental filings which are
incorporated or deemed to be incorporated by reference into such prospectus, and
(B) thirty (30) days after receipt of the notice concerning the Suspension
Period.

      9.3   REGISTRATION PROCEDURES. When BioMarin effects the registration of
the Restricted Stock under the Securities Act pursuant to Section 9.1 hereof,
BioMarin will, at its expense, as expeditiously as possible:

            (a)   In accordance with the Securities Act and the rules and
regulations of the Commission, prepare and file in accordance with Section 9.1,
with the Commission a registration statement with respect to the Restricted
Stock and use its best efforts to cause such registration statement to become
and remain effective for the period described herein, and prepare and file with
the Commission such amendments to such registration statement and supplements to
the prospectus contained therein as may be necessary to keep such registration
statement effective for such period and such registration statement and
prospectus accurate and complete for such period (provided that, before filing a
registration statement or prospectus or any amendments or supplements thereto,
BioMarin will furnish to the counsel selected by the Holder copies of the plan
of distribution section of such prospectus proposed to be filed);

            (b)   Furnish to the Holder participating in such registration such
reasonable number of copies of the registration statement, preliminary
prospectus, final prospectus, each amendment and supplement thereto and such
other documents as the Holder may reasonably request in order to facilitate the
disposition of the Restricted Stock;

            (c)   Use its best efforts to register or qualify the Restricted
Stock covered by such registration statement under such state securities or blue
sky laws of such jurisdictions as the Holder may reasonably request except that
BioMarin shall not for any purpose be required to execute a general consent to
service of process or to qualify to do business as a foreign corporation in any
jurisdiction where it is not so qualified;

                                      -24-
<PAGE>

            (d)   Notify the Holder, promptly after it shall receive notice
thereof, of the date and time when such registration statement and each
post-effective amendment thereto has become effective or a supplement to any
prospectus forming a part of such registration statement has been filed;

            (e)   Notify the Holder promptly of any request by the Commission
for the amending or supplementing of such registration statement or prospectus
or for additional information;

            (f)   Prepare and file with the Commission, promptly upon the
request of the Holder, any amendments or supplements to such registration
statement or prospectus which, in the opinion of counsel for the Holder, is
required under the Securities Act or the rules and regulations thereunder in
connection with the distribution of the Restricted Stock by the Holder;

            (g)   Prepare and promptly file with the Commission, and promptly
notify the Holder of the filing of, such amendments or supplements to such
registration statement or prospectus as may be necessary to correct any
statements or omissions if, at the time when a prospectus relating to such
securities is required to be delivered under the Securities Act, any event has
occurred as the result of which any such prospectus or any other prospectus as
then in effect would include an untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the
statements therein not misleading;

            (h)   Advise the Holder, promptly after it shall receive notice or
obtain knowledge thereof, of the issuance of any stop order by the Commission
suspending the effectiveness of such registration statement or the initiation or
threatening of any proceeding for that purpose and promptly use its best efforts
to prevent the issuance of any stop order or to obtain its withdrawal if such
stop order should be issued;

            (i)   Cause all such Restricted Stock to be listed on each
securities exchange on which similar securities issued by BioMarin are then
listed and, if not so listed, to be listed on the Nasdaq National Market or any
United States national securities exchange;

            (j)   Provide a transfer agent and registrar for all such Restricted
Stock which shall be the transfer agent for the common stock of BioMarin not
later than the effective date of such registration statement; and

            (k)   Otherwise use its reasonable best efforts to comply with all
applicable rules and regulations of the Commission, and make available to its
security holders, as soon as reasonably practicable, an earnings statement
covering the period of at least twelve months beginning with the first day of
BioMarin's first full calendar quarter after the effective date of the
registration statement, which earnings statement shall satisfy the provisions of
Section 11(a) of the Securities Act and Rule 158 thereunder.

      With respect to any registration effected pursuant to Section 9.1 hereof,
all fees, costs and expenses of and incidental to such registration and the
public offering in connection therewith shall be borne by BioMarin; provided,
however, that the Holder shall bear its own legal fees, if any, and its pro rata
share of any underwriting discounts or commissions, if any.

                                      -25-
<PAGE>

      9.4   INDEMNIFICATION.

            (a)   BioMarin will indemnify and hold harmless the Holder, pursuant
to the provisions of this Section 9.4, and any underwriter (as defined in the
Securities Act) for the Holder, and any person who controls the Holder or such
underwriter within the meaning of the Securities Act, and any officer, director,
employee, agent, partner, member or affiliate of the Holder (for purposes of
this Section 9.4, the "ASCENT REGISTRATION INDEMNIFIED PARTIES"), from and
against, and will reimburse each such Ascent Registration Indemnified Party with
respect to, any and all claims, actions, demands, losses, damages, liabilities,
costs and expenses to which such Ascent Registration Indemnified Party may
become subject under the Securities Act or otherwise, insofar as such claims,
actions, demands, losses, damages, liabilities, costs or expenses arise out of
or are based upon any untrue statement or alleged untrue statement of any
material fact contained in such registration statement, any prospectus contained
therein or any amendment or supplement thereto, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading;
provided, however, that BioMarin will not be liable in any such case to the
extent that any such claim, action, demand, loss, damage, liability, cost or
expense is caused by an untrue statement or alleged untrue statement or omission
or alleged omission so made in strict conformity with information furnished by
such Ascent Registration Indemnified Party in writing specifically for use in
the preparation thereof.

            (b)   The Holder will indemnify and hold harmless BioMarin pursuant
to the provisions of this Section 9.4, and any underwriter (as defined in the
Securities Act) for BioMarin and any person who controls BioMarin or such
underwriter within the meaning of the Securities Act, and any officer, director,
employee, agent, partner, member or affiliate of BioMarin (for purposes of this
Section 9.4, the "BIOMARIN REGISTRATION INDEMNIFIED PARTIES", and together with
the Ascent Registration Indemnified Parties, the "REGISTRATION INDEMNIFIED
PARTIES"), from and against, and will reimburse each such BioMarin Registration
Indemnified Party, and such controlling Persons with respect to, any and all
claims, actions, demands, losses, damages, liabilities, costs or expenses to
which such BioMarin Registration Indemnified Party may become subject under the
Securities Act or otherwise, insofar as such claims, actions, demands, losses,
damages, liabilities, costs or expenses are caused by any untrue or alleged
untrue statement of any material fact contained in such registration statement,
any prospectus contained therein or any amendment or supplement thereto, or are
caused by the omission or the alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances in which they were made, not misleading, in each case
to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was so made solely in reliance
upon and in strict conformity with written information furnished by an Ascent
Registration Indemnified Party specifically for use in the preparation thereof;
provided, however, that the liability of the Holder shall be limited to an
amount not to exceed the net proceeds received by the Holder pursuant to the
registration statement which gives rise to such obligation to indemnify.

            (c)   Promptly after receipt by a party indemnified pursuant to the
provisions of clause (a) or (b) of this Section 9.4 of notice of the
commencement of any action involving the subject matter of the foregoing
indemnity provisions, such Registration Indemnified Party will, if a claim
thereof is to be made against the indemnifying party pursuant to the provisions
of clause

                                      -26-
<PAGE>

(a) or (b) of this Section 9.4, notify the indemnifying party of the
commencement thereof; but the omission so to notify the indemnifying party will
not relieve it from any liability which it may have to a Registration
Indemnified Party otherwise than under this Section 9.4 and shall not relieve
the indemnifying party from liability under this Section 9.4 unless such
indemnifying party is prejudiced by such omission. In case such action is
brought against any Registration Indemnified Party and it notifies the
indemnifying party of the commencement thereof, the indemnifying party shall
have the right to participate in, and, to the extent that it may wish, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such Registration Indemnified
Party, and after notice from the indemnifying party to such Registration
Indemnified Party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such Registration Indemnified Party
pursuant to the provisions of such clause (a) or (b) for any legal or other
expense subsequently incurred by such Registration Indemnified Party in
connection with the defense thereof other than reasonable costs of
investigation. No indemnifying party shall be liable to a Registration
Indemnified Party for any settlement of any action or claim without the consent
of the indemnifying party. No indemnifying party will consent to entry of any
judgment or enter into any settlement which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Registration
Indemnified Party of a release from all liability in respect to such claim or
litigation.

            (d)   If the indemnification provided for in clause (a) or (b) of
this Section 9.4 is held by a court of competent jurisdiction to be unavailable
to a party to be indemnified with respect to any claims, actions, demands,
losses, damages, liabilities, costs or expenses referred to therein, then each
indemnifying party under any such subsection, in lieu of indemnifying such
Registration Indemnified Party thereunder, hereby agrees to contribute to the
amount paid or payable by such Registration Indemnified Party as a result of
such claims, actions, demands, losses, damages, liabilities, costs or expenses
in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the Registration Indemnified Party on
the other in connection with the statements or omissions which resulted in such
claims, actions, demands, losses, damages, liabilities, costs or expenses, as
well as any other relevant equitable considerations. The relative fault of the
indemnifying party and of the Registration Indemnified Party shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the indemnifying party or by
the Registration Indemnified Party and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission. The amount the Holder shall be obligated to contribute pursuant to
this clause (d) shall be limited to an amount not to exceed the net proceeds
received by the Holder pursuant to the registration statement which gives rise
to such obligation to contribute. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution hereunder from any person who was not guilty
of such fraudulent misrepresentation.

      9.5   REPORTING REQUIREMENTS UNDER THE EXCHANGE ACT. BioMarin shall timely
file such information, documents and reports as the Commission may require or
prescribe under Section 13 of the Exchange Act. BioMarin acknowledges and agrees
that the purposes of the requirements contained in this Section 9.5 are to
enable the Holder to comply with the current public information requirement
contained in paragraph (c) of Rule 144 should the Holder ever

                                      -27-
<PAGE>

wish to dispose of any of the Restricted Stock without registration under the
Securities Act in reliance upon Rule 144 (or any other similar exemptive
provision).

      9.6   STOCKHOLDER INFORMATION. BioMarin may require the Holder to furnish
BioMarin such information with respect to the Holder and the distribution of its
Restricted Stock as BioMarin may from time to time reasonably request in writing
as shall be required by law or by the Commission in connection therewith.

10.   PATENT PROSECUTION AND THIRD PARTY INFRINGEMENT

      10.1  PATENT PROSECUTION.

            (a)   PROSECUTION. Commencing on the Effective Date and continuing
during the License Term, BioMarin Acquisition shall use commercially reasonable
efforts and diligence to file, prosecute, issue and maintain all registered
intellectual property rights in and to the Taste Masking Related Licensed
Patents and Development Licensed Patents in the name of Ascent and on behalf of
Ascent, and may, with the prior written consent of Ascent, file and prosecute
applications and otherwise pursue registration for any unregistered intellectual
property rights in and to the Licensed Technology, Licensed Development
Technology and Improvements and such new filings, applications, or the like
shall be made in the name of and on behalf of Ascent. For avoidance of doubt,
such new filings, applications, or the like shall be considered Taste Masking
Related Licensed Patents, Development Licensed Patents or Improvements, as
applicable, and shall be subject to the License and the terms and conditions of
this Agreement. In connection with BioMarin Acquisition's performance of its
obligations under this Section 10.1, it shall promptly provide written
notification and copies of all correspondence from Governmental Bodies or
agencies to Ascent as well as promptly provide drafts of all replies for review
by Ascent. In the event that BioMarin Acquisition elects not to file, prosecute
or maintain any Taste Masking Related Licensed Patents, Development Licensed
Patents and Improvements, it shall give reasonable written notice, not less than
thirty (30) days after such election, to allow Ascent to file, prosecute or
maintain such Taste Masking Related Licensed Patents, Development Licensed
Patents and Improvements unless BioMarin Acquisition has provided to Ascent a
commercially reasonable position for not taking such action. With regard to any
Taste Masking Related Licensed Patents, Development Licensed Patents or
Improvements that are subject to such written notice, upon the date of the
notice, the exclusive license thereto shall be terminated and all Materials
related thereto must be immediately returned to Ascent within ten (10) Business
Days.

            (b)   FURTHER ASSURANCES. Ascent and/or Medicis shall execute and/or
cause to be delivered to BioMarin Acquisition and shall take such other actions,
as BioMarin Acquisition may reasonably request, at or after the Effective Date,
at BioMarin Acquisition's expense, for the purpose of evidencing, prosecuting,
obtaining and maintaining all intellectual property rights in and to the
Licensed Technology, Licensed Development Technology and Licensed Trademarks in
any and all countries. Such acts may include, but are not limited to, execution
of documents and making inventors and employees available to BioMarin
Acquisition.

            (c)   POWER OF ATTORNEY. Ascent and Medicis each hereby designates
and appoints the officers of BioMarin Acquisition as their agents and
attorneys-in-fact, respectively,

                                      -28-
<PAGE>

to act for and on behalf and instead of Ascent and Medicis to execute and file
any documents and to do all other lawfully permitted acts to further the
purposes set forth in Section 10.1(a) above with the same legal force and effect
as if executed by Ascent or Medicis, respectively; provided that such officers
shall not be authorized to act for or on their behalf with respect to Taste
Masking Related Licensed Patents, Development Licensed Patents or Improvements
which BioMarin Acquisition has elected not to file, prosecute or maintain
pursuant to Section 10.1(a). Each of Ascent and Medicis further acknowledge and
agree that such power of attorney is a power of attorney coupled with an
interest and is revocable only if (i) this Agreement expires, (ii) this
Agreement is terminated, or (iii) the License becomes non-exclusive pursuant to
Section 4.2.

      10.2  THIRD PARTY INFRINGEMENT.

            (a)   NOTICE. In the event that Ascent or its Affiliates, on the one
hand, or BioMarin Acquisition or its Subsidiaries, or BioMarin, on the other
hand, becomes aware of any actual or threatened infringement of any Licensed
Technology or the Licensed Development Technology or has actual knowledge that
any Licensed Technology is being infringed or misappropriated by a third party,
or is subject to a declaratory judgment action arising from such infringement or
misappropriation, it shall promptly notify the other party of all available
details regarding such infringement or misappropriation with a written
description thereof.

            (b)   BIOMARIN ACQUISITION'S RIGHT TO CONTROL PROCEEDINGS. BioMarin
Acquisition shall have the first right, but not the obligation, during the
License Term, at its sole expense, to initiate and conduct legal proceedings to
enforce the Licensed Technology, Licensed Development Technology or Improvements
against infringement or misappropriation by third parties and to defend against
any declaratory judgment action relating thereto; provided, however, that during
the License Term: (i) Ascent shall receive prompt notice of such action and have
the right to actively participate in any such action at Ascent's expense; (ii)
Ascent shall have the right to provide ongoing comments and advice regarding its
position in such action, which comments shall be considered in good faith by
BioMarin Acquisition; and (iii) BioMarin Acquisition shall not make any
settlement or otherwise abandon any Licensed Technology, Licensed Development
Technology or Improvements without the prior written consent of Ascent, which
shall not be unreasonably withheld or delayed. Ascent shall timely execute all
necessary and proper documents and take all other reasonable and appropriate
action required for BioMarin Acquisition to initiate and prosecute such
proceedings. If Ascent is a legally indispensable party to such action, Ascent
shall join in such action at the request of BioMarin Acquisition. Ascent shall
reasonably cooperate with BioMarin Acquisition in such action upon written
request by BioMarin Acquisition. During the License Term, Ascent and its
Affiliates shall ensure that any personnel of Ascent or its Affiliates will be
available to cooperate with BioMarin Acquisition, as reasonably requested by
BioMarin Acquisition, at BioMarin Acquisition's expense. Any recovery received
in connection with a suit brought by BioMarin Acquisition pursuant to this
Section 10.2(b) shall be retained by BioMarin Acquisition, less reimbursement to
Ascent or its Affiliates by BioMarin Acquisition of any reasonable costs
incurred by Ascent or its Affiliates as a result of its participation in such
action regardless of whether Ascent or its Affiliates participated on its own or
was joined in the action. During the License Term, if BioMarin Acquisition (i)
fails to institute or defend, as applicable, such suit within a reasonable
period of no less than thirty (30) calendar days from the date of receipt of

                                      -29-
<PAGE>

written notice regarding the suit or the basis for such suit, and (ii) within
such period of time, BioMarin Acquisition has not provided a commercially
reasonable position for failing to take such action, Ascent or its Affiliate may
thereafter take such action as it deems necessary to defend and/or enforce its
rights, including, without limitation, the right, but not the obligation, to
bring, at its own expense, an infringement action or file any other appropriate
action or claim related to infringement against any third party. BioMarin
Acquisition shall, at the request and expense of Ascent or its Affiliate,
cooperate and provide reasonable assistance in any action described in this
Section and, if required by law, join such action. In such events, the expenses
for enforcement will be borne by Ascent or its Affiliate, and any recovery or
compensation resulting from such proceeding, including without limitation
non-monetary rights, shall belong entirely to Ascent or its Affiliate. Ascent or
its Affiliate shall be entitled to any and all damages recovered. Ascent and its
Affiliates shall not settle or accept any settlement from any third party
without the prior written consent of BioMarin Acquisition, which consent shall
not be unreasonably withheld or delayed.

      10.3  ASCENT'S RIGHT TO ASSUME OBLIGATIONS. In the event that BioMarin
Acquisition elects not to make any filing related to, prosecute, or maintain any
registered intellectual property rights in the Licensed Technology, Licensed
Development Technology or Improvements, Ascent shall have the right, but not the
obligation, to take such action as it deems appropriate, at its own expense, to
protect such Licensed Technology, Licensed Development Technology or
Improvements.

11.   TERM AND TERMINATION

      11.1  TERM. The term of this Agreement (the "LICENSE TERM") will commence
on the Effective Date and, unless sooner terminated as provided in this Section
11, shall continue until the earlier occurrence of (a) six (6) years from the
Effective Date, and (b) the date on which this Agreement terminates pursuant to
Section 11.2 below, at which time this Agreement shall terminate.

      11.2  TERMINATION.

            (a)   In the event that BioMarin Acquisition fails to timely make
any License Payment or Contingent Payments Reimbursement Payment and such
failure is not cured within twenty (20) Business Days of the due date thereof,
then Medicis and Ascent shall have the right, until such failure is cured, in
their sole discretion, to terminate this Agreement and exercise the rights set
forth in Section 11.4. In the event that Medicis or Ascent terminates this
Agreement, such party may require BioMarin Acquisition to pay Ascent immediately
a sum equal to (x) the License Payments and the Contingent Reimbursements
Payment Reimbursements under this Agreement, less the sum of all amounts paid to
Ascent pursuant to Section 4.1 plus (y) all attorney's fees and other expenses
reasonably incurred by Ascent in connection with obtaining the sum described in
clause (x) above.

            (b)   If any Breach by Ascent or Medicis of Section 7.1, 7.2(a) or
10.1(c) results in an Ascent Material Adverse Effect and BioMarin Acquisition
gives Medicis written notice of such Breach, specifying in reasonable detail the
particulars of the alleged Breach, and such Breach has not been cured within
twenty (20) Business Days after Medicis' receipt of such

                                      -30-
<PAGE>

notice, then BioMarin Acquisition shall have the right, in its sole discretion,
to terminate this Agreement.

            (c)   This Agreement may terminate by the mutual written consent of
the parties hereto.

      11.3  TERMINATION PROCEDURES. If BioMarin Acquisition wishes to terminate
this Agreement pursuant to Section 11.2, BioMarin Acquisition shall deliver to
Ascent a written notice stating that BioMarin Acquisition is terminating this
Agreement and setting forth a brief description of the basis on which BioMarin
Acquisition is terminating this Agreement. If Ascent wishes to terminate this
Agreement pursuant to Section 11.2, Ascent shall deliver to BioMarin Acquisition
a written notice stating that Medicis is terminating this Agreement and setting
forth a brief description of the basis on which Medicis is terminating this
Agreement. Any termination pursuant to Section 11.2 shall be effective upon
receipt of notice to such effect by the non-terminating Party in accordance
herewith.

      11.4  EFFECTS OF TERMINATION.

            (a)   In the event this Agreement is terminated pursuant to Section
11.2 above:

                  (i)   the licenses and sublicenses set forth in Article 2 will
terminate and BioMarin and BioMarin Acquisition will no longer have the right to
market any Licensed Products;

                  (ii)  BioMarin Acquisition shall destroy or return to Ascent,
upon request by Ascent, all packaging, labels, and promotional materials bearing
a Licensed Trademark;

                  (iii) Ascent, in its sole discretion, shall have the right to
elect to purchase all or any portion of Licensed Products remaining in inventory
or ordered by BioMarin Acquisition prior to the effective date of the
termination at the carrying cost for such Licensed Products;

                  (iv)  BioMarin Acquisition shall provide to Ascent all test
data including pharmacological, biological, chemical, biochemical, toxicological
and clinical test data, analytical and quality control data, stability data,
studies and procedures, patent and other legal information or descriptions,
customer lists and, upon Ascent's request, all promotional and marketing
materials, in each case, related to the Licensed Products that were conceived,
made, developed or otherwise controlled by BioMarin Acquisition or its
Affiliates during the term of this Agreement;

                  (v)   BioMarin Acquisition shall cooperate with Ascent to
transfer all applicable regulatory matters to Ascent; and

                  (vi)  BioMarin Acquisition shall use commercially reasonable
efforts to assign to Ascent, to the extent assignable in whole or in part, as
applicable, any agreements of BioMarin Acquisition requested by Ascent to be
assigned to the extent related to the promotion, marketing, manufacture, supply
and/or distribution of any of the Licensed Products.

                                      -31-
<PAGE>

            (b)   Upon the expiration or termination of this Agreement for
whatever reason, all rights and obligations of BioMarin and BioMarin Acquisition
hereunder shall terminate and BioMarin Acquisition shall promptly discontinue
the manufacture, marketing, sale and distribution of Licensed Products and any
other use or exploitation of the Licensed Technology, Licensed Trademarks, and
Licensed Development Technology; provided, however, that the obligation of
BioMarin to indemnify the Ascent Indemnitees shall survive termination of this
Agreement in accordance herewith.

12.   SURVIVAL AND INDEMNIFICATION

      12.1  SURVIVAL OF REPRESENTATIONS AND COVENANTS.

            (a)   All representations and warranties contained in this Agreement
are made as of the Effective Date and shall expire at 11:59 p.m. (Pacific Time)
on the eighteenth-month anniversary of the Effective Date and shall thereafter
be of no further force or effect, except (i) the representations and warranties
set forth in Sections 7.1, 7.2(a) and 8.1 shall expire on the expiration of the
relevant statute of limitations, and (ii) to the extent required to enforce the
parties' rights and obligations hereunder following the end of such period for
any claims for which a Claim Notice (as defined below) has properly been made
prior to the expiration of such period. All of the covenants, agreements and
obligations of the parties contained in this Agreement shall survive (i) until
fully performed or fulfilled, unless non-compliance with such covenants,
agreements or obligations is waived in writing by the party or parties entitled
to such performance or (ii) if not fully performed or fulfilled, until the
expiration of the relevant statute of limitations.

            (b)   For purposes of this Agreement, a "CLAIM NOTICE" relating to a
particular representation or warranty or covenant shall be deemed to have been
given if any Indemnified Party, acting in good faith, delivers to the
Indemnifying Party a written notice stating that such Indemnified Party
reasonably believes that there is or has been a possible Breach of such
representation or warranty or covenant and containing (i) a brief description of
the circumstances supporting such Indemnified Party's reasonable belief that
there is or has been such a possible Breach, and (ii) a non-binding, preliminary
estimate of the aggregate dollar amount of the actual and potential Damages that
have arisen and may arise as a direct result of such possible Breach.

      12.2  INDEMNIFICATION BY ASCENT.

            (a)   From and after the Effective Date, Ascent shall hold harmless
and indemnify each of the BioMarin Indemnitees from and against, and shall
compensate and reimburse each of the BioMarin Indemnitees for, any Damages that
are suffered or incurred by any of the BioMarin Indemnitees or to which any of
the BioMarin Indemnitees may otherwise become subject at any time (regardless of
whether or not such Damages relate to any Third Party Claim) and that arise
from:

                  (i)   any Breach of any of the representations or warranties
made by Ascent in this Agreement;

                  (ii)  any Breach of any covenant or obligation of Ascent or
Medicis contained in this Agreement;

                                      -32-
<PAGE>

                  (iii) any Third Party Claim arising from the conduct or
operation of the Pediatrics Business prior to the Effective Date; or

                  (iv)  any Proceeding relating directly or indirectly to any
Breach, Liability or Third Party Claim of the type referred to in clauses (i)
through (iii) above (including any Proceeding commenced by any BioMarin
Indemnitee for the purpose of enforcing any of its rights under this Section
12.2).

            (b)   Subject to Section 12.2(d), Ascent shall not be required to
make any indemnification payment pursuant to Section 12.2(a)(i) of this
Agreement, Section 9.2(a)(i) of the Asset Purchase Agreement, or Section
8.2(a)(i) of the Securities Purchase Agreement, until such time as and to the
extent that the total amount of all Damages (including the Damages arising from
such Breach and all other Damages arising from any other Breaches of any
representations or warranties) that have been directly or indirectly suffered or
incurred by any one or more of the BioMarin Indemnitees, or to which any one or
more of the BioMarin Indemnitees has or have otherwise become subject, exceeds,
in the aggregate, $250,000 and then only to the extent of such excess.

            (c)   Notwithstanding anything in this Agreement to the contrary,
but subject to Section 12.2(d), the aggregate liability for any indemnification
payments pursuant to Section 12.2(a)(i) of this Agreement, Section 9.2(a)(i) of
the Asset Purchase Agreement and Section 8.2(a)(i) of the Securities Purchase
Agreement will be limited to, and shall not exceed, in the aggregate, $66.5
million (the "ASCENT CAP"), provided, however, that the Ascent Cap shall not
apply to any indemnification obligation of Ascent arising out of any Breach of
Section 7.1 or 7.2.

            (d)   The limitations on the indemnification obligations of Ascent
set forth in each of Section 12.2(b) and Section 12.2(c) shall not apply to any
willful Breach, intentional misrepresentation or fraud by Medicis or Ascent.

            (e)   To the extent that actions or failures to act or other
circumstances result in a Breach of a representation, warranty or covenant or
other triggering event giving rise to a right of indemnification to a party
under this Agreement, the Asset Purchase Agreement and/or the Securities
Purchase Agreement, such party shall be entitled to only one recovery of Damages
resulting from such actions, failures to act or other circumstances giving rise
to the right of indemnification, regardless of whether the actions, failures to
act or other circumstances giving rise to the right of indemnification
constitute a Breach of more than one agreement. The parties acknowledge that the
purpose of this provision is to prevent duplicative recovery for the same
Damages, and not to preclude the recovery of Damages for separate and
independent indemnity claims that may arise under the various agreements.

      12.3  INDEMNIFICATION BY BIOMARIN.

            (a)   From and after the Effective Date, BioMarin shall hold
harmless and indemnify the Ascent Indemnitees from and against, and shall
compensate and reimburse each of the Ascent Indemnitees for, any Damages that
are suffered or incurred by the Ascent

                                      -33-
<PAGE>

Indemnitees or to which the Ascent Indemnitees may otherwise become subject at
any time (regardless of whether or not such Damages relate to any Third Party
Claim) and that arise from:

                  (i)   any Breach of any representation or warranty made by
BioMarin or BioMarin Acquisition in this Agreement;

                  (ii)  any Breach of any covenant or obligation of BioMarin or
BioMarin Acquisition in this Agreement; and

                  (iii) any Third Party Claim arising from the conduct or
operation of making, manufacturing, marketing, selling, distributing, importing,
exporting and developing of the Licensed Products following the Effective Date,
except Damages suffered or incurred or arising from the Breach of Medicis,
Ascent or Medicis Manufacturing, as applicable, under this Agreement, the Supply
Agreement, or the Transition Services Agreement;

                  (iv)  any Proceeding relating directly or indirectly to any
Breach, Liability or Third Party Claim of the type referred to in clauses "(i)"
through "(iii)" above (including any Proceeding commenced by any Ascent
Indemnitee for the purpose of enforcing its rights under this Section 12.3).

            (b)   Subject to Section 12.3(d), BioMarin shall not be required to
make any indemnification payment pursuant to Section 12.3(a)(i) of this
Agreement, Section 9.3(a)(i) of the Asset Purchase Agreement or Section
8.3(a)(i) of the Securities Purchase Agreement until such time as and to the
extent that the total amount of all Damages (including the Damages arising from
such Breach and all other Damages arising from any other Breaches of its
representations or warranties) that have been directly or indirectly suffered or
incurred by the Ascent Indemnitees, or to which the Ascent Indemnitees have
otherwise become subject, exceeds, in the aggregate, $250,000 and then only to
the extent of such excess.

            (c)   Notwithstanding anything in this Agreement to the contrary,
but subject to Section 12.3(d), the aggregate liability for any indemnification
payments pursuant to Section 12.3(a)(i) of this Agreement, Section 9.3(a)(i) of
the Asset Purchase Agreement and Section 8.3(a)(i) of the Securities Purchase
Agreement, will be limited to, and shall not exceed, in the aggregate, $66.5
million (the "BIOMARIN CAP"), provided, however, that the BioMarin Cap shall not
apply to any indemnification obligation of BioMarin arising out of any Breach of
Section 8.1.

            (d)   The limitation on the indemnification obligations of BioMarin
that is set forth in Section 12.3(b) and Section 12.3(c) shall not apply to (i)
any failure by BioMarin Acquisition to make any payment pursuant to Section 4.1,
or (ii) any willful Breach, intentional misrepresentation or fraud by BioMarin
or BioMarin Acquisition.

            (e)   To the extent that actions or failures to act or other
circumstances result in a Breach of a representation, warranty or covenant or
other triggering event giving rise to a right of indemnification to a party
under this Agreement, the Asset Purchase Agreement and/or the Securities
Purchase Agreement, such party shall be entitled to only one recovery of the
Damages resulting from such actions, failures to act or other circumstances
giving rise to the right of indemnification, regardless of whether the actions,
failures to act or other circumstances giving

                                      -34-
<PAGE>

rise to the right of indemnification constitute a breach of more than one
agreement. The parties acknowledge that the purpose of this provision is to
prevent duplicative recovery for the same Damages, and not to preclude the
recovery of Damages for separate and independent indemnity claims that may arise
under the various agreements.

      12.4  PROCEDURES RELATING TO INDEMNIFICATION FOR THIRD PARTY CLAIMS

            (a)   Within ten (10) Business Days after a BioMarin Indemnitee or
Ascent Indemnitee obtains Knowledge of the commencement of any third-party
claim, action, suit or proceeding (a "THIRD PARTY CLAIM") or the occurrence of
any fact which may become the basis of a Third Party Claim in respect of which
an Indemnified Party is entitled to indemnification under this Agreement, such
Indemnified Party shall notify in writing the Indemnifying Party of such Third
Party Claim; provided, however, that failure to give such notification shall not
affect the indemnification provided hereunder except to the extent the
Indemnifying Party shall have been materially prejudiced as a result of such
failure (except that the Indemnifying Party shall not be liable for any expenses
incurred during the period in which the Indemnified Party failed to give such
notice). Thereafter, the Indemnified Party shall deliver to the Indemnifying
Party, within five (5) Business Days after the Indemnified Party's receipt
thereof, copies of all notices and non-privileged documents (including court
papers) received by the Indemnified Party relating to the Third Party Claim.

            (b)   If a Third Party Claim is made against an Indemnified Party,
the Indemnifying Party shall be entitled to participate at its expense in the
defense thereof and, if it so chooses within thirty (30) days after receipt of
notice of such claim to assume the defense thereof at the Indemnifying Party's
expense, with counsel selected by the Indemnifying Party. Should the
Indemnifying Party so elect to assume the defense of a Third Party Claim, the
Indemnifying Party shall not be liable to the Indemnified Party for legal
expenses subsequently incurred by the Indemnified Party in connection with the
defense thereof. If the Indemnifying Party assumes such defense, the Indemnified
Party shall be permitted to participate in the defense thereof and to employ
counsel (not reasonably objected to by the Indemnifying Party), at its own
expense. The Indemnifying Party shall be liable for the fees and expenses of
counsel employed by the Indemnified Party (i) for any period during which the
Indemnifying Party has not assumed the defense thereof or is not using
commercially reasonable efforts to pursue the defense thereof (other than during
the period in which the Indemnified Party failed to give notice of the Third
Party Claim as provided above), or (ii) if the Indemnified Party reasonably
determines (x) that there may be a conflict between the positions of the
Indemnifying Party and the Indemnified Party in defending such claim or action,
or (y) that there may be legal defenses available to the Indemnified Party
different from or in addition to those available to the Indemnifying Party.

            (c)   If the Indemnifying Party so elects to assume the defense of
any Third Party Claim, all of the Indemnified Parties shall reasonably cooperate
with the Indemnifying Party, at the expense of the Indemnifying Party, in the
defense or prosecution thereof. Such cooperation shall include the retention and
(upon the Indemnifying Party's request) the provision to the Indemnifying Party
of non-privileged records and information which are reasonably relevant to such
Third Party Claim, and making employees available on a mutually convenient basis
to provide additional information and explanation of any material provided
hereunder. Whether or not the Indemnifying Party shall have assumed the defense
of a Third Party Claim,

                                      -35-
<PAGE>

the Indemnified Party shall not admit any liability with respect to, or settle,
compromise or discharge, such Third Party Claim without the Indemnifying Party's
prior written consent (which consent shall not be unreasonably withheld). If the
Indemnifying Party shall have assumed the defense of a Third Party Claim, the
Indemnified Party shall agree to any settlement, compromise or discharge of a
Third Party Claim for monetary Damages which the Indemnifying Party may
recommend and which by its terms obligates the Indemnifying Party to pay the
full amount of the monetary Damages in connection with such Third Party Claim
and which releases the Indemnifying Party and the Indemnified Party completely
in connection with such Third Party Claim and does not impose any covenant or
commitment on the Indemnified Party.

      12.5  OTHER CLAIMS. In the event any Indemnified Party should have a claim
against any Indemnifying Party under Section 12.2 or 12.3 that does not involve
a Third Party Claim being asserted against or sought to be collected from such
Indemnified Party, the Indemnified Party shall deliver notice to the
Indemnifying Party of such claim within 15 Business Days of obtaining Knowledge
of the occurrence of such claim. The failure by any Indemnified Party so to
notify the Indemnifying Party within this time period shall not relieve the
Indemnifying Party from any liability which it may have to such Indemnified
Party under Section 12.2 or 12.3, except to the extent that the Indemnifying
Party is materially prejudiced by such failure. If the Indemnifying Party does
not notify the Indemnified Party within 15 Business Days following its receipt
of such notice that the Indemnifying Party disputes its liability to the
Indemnified Party under Section 12.2 or 12.3, such claim specified by the
Indemnified Party in such notice shall be conclusively deemed a liability of the
Indemnifying Party under Section 12.2 or 12.3 and the Indemnifying Party shall
pay the amount of such liability to the Indemnified Party on demand or, in the
case of any notice in which the amount of the claim (or any portion thereof) is
estimated, on such later date when the amount of such claim (or such portion
thereof) becomes finally determined by agreement between the Indemnifying Party
and the Indemnified Party or by judgment or decree of a court of competent
jurisdiction. If the Indemnifying Party has timely disputed its liability with
respect to such claim, as provided above, the Indemnifying Party and the
Indemnified Party shall attempt to resolve such claim in accordance with Section
13.6.

      12.6  SETTLEMENTS. No party may settle any claim, action or proceeding
related to a liability to a third party without the consent of the other
parties, if such settlement would impose any monetary obligation on the other
parties or require the other parties to submit to an injunction or impose any
covenant or commitment on the other party or otherwise limit the other party's
rights under this Agreement, and any payment made by a party in such a
settlement without obtaining such consent shall be at its own cost and expense.

      12.7  NO CONSEQUENTIAL OR PUNITIVE DAMAGES. No party hereto (or its
Affiliates) shall, under any circumstance, be liable to any other party (or its
Affiliates) for any consequential, exemplary, special, incidental or punitive
Damages claimed by such other party under the terms of or due to any Breach of
this Agreement.

13.   MISCELLANEOUS

      13.1  FURTHER ASSURANCES. From and after the Effective Time, each party
hereto shall execute and deliver such documents and take such other actions as
the other party may

                                      -36-
<PAGE>

reasonably request, for the purpose of carrying out or evidencing any of the
transactions contemplated hereby.

      13.2  RELATIONSHIP OF THE PARTIES. BioMarin Acquisition, on the one hand,
and Ascent, on the other hand, hereby acknowledge that each is an independent
entity and is not subject to the control of the other party hereto in any manner
except as specifically provided in this Agreement. Nothing contained in this
Agreement shall be construed in any way as creating any relationship of
partnership or joint venture, between the parties, or to render either party
liable for any of the debts or obligations of the other party hereto. Neither
party shall act or purport to act, or represent itself, directly or by
implication, as the agent, legal Representative, partner or joint venturer of
the other party, or in any manner assume or create or purport to assume or
create any obligation in the name or on behalf of the other party.

      13.3  RIGHTS IN BANKRUPTCY.

            (a)   All rights and licenses granted under or pursuant to this
Agreement by Ascent and Medicis are, and shall otherwise be deemed to be, for
purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to
"intellectual property" as defined under Section 101 of the U.S. Bankruptcy
Code. The parties agree that BioMarin Acquisition shall retain and may fully
exercise all of its rights and elections under the U.S. Bankruptcy Code. The
parties further agree that, in the event of the commencement of a Bankruptcy
Proceeding by or against Ascent and/or Medicis under the U.S. Bankruptcy Code,
BioMarin Acquisition shall be entitled to a complete duplicate of (or complete
access to, as appropriate) all Licensed Assets and all embodiments of all
applicable intellectual property rights, and same, if not already in its
possession, shall be promptly delivered to it upon any such commencement of a
Bankruptcy Proceeding upon its written request therefor, unless Ascent or
Medicis, as applicable (or a trustee on behalf of each such applicable party)
elects to continue to perform all of their obligations under this Agreement.

            (b)   The parties agree and intend that, to the extent permitted by
law, the non-monetary provisions of this Agreement and the Securities Purchase
Agreement are material elements of such agreements and that the failure to
perform such non-monetary provisions would have a materially adverse impact on
the value of the Licensed Assets such that any provision of cure, compensation,
or adequate assurance of future performance under Section 365(b)(1) of the U.S.
Bankruptcy Code must include such non-monetary provisions except as specifically
excluded under Section 365(b)(2) of the U.S. Bankruptcy Code. The parties
further agree that the prompt payment of all License Payments and Contingent
Payment Reimbursement Payments becoming due on or after the commencement of a
Bankruptcy Proceeding by or against BioMarin Acquisition shall be a condition
precedent to the continued use of Licensed Assets under this Agreement.

      13.4  GOVERNING LAW; VENUE.

            (a)   This Agreement shall be construed in accordance with, and
governed in all respects by, the internal laws of the State of New York (without
giving effect to principles of conflicts of laws).

                                      -37-
<PAGE>

            (b)   Any legal action or other legal proceeding relating to this
Agreement or the enforcement of any provision of this Agreement may be brought
or otherwise commenced in any state or federal court located in New York, New
York in the Borough of Manhattan. Each party to this Agreement:

                  (i)   expressly and irrevocably consents and submits to the
jurisdiction of each state and federal court located in New York, New York in
the Borough of Manhattan (and each appellate court located in the State of New
York) in connection with any such legal proceeding;

                  (ii)  agrees that each state and federal court located in New
York, New York in the Borough of Manhattan shall be deemed to be a convenient
forum; and

                  (iii) agrees not to assert (by way of motion, as a defense or
otherwise), in any such legal proceeding commenced in any state or federal court
located in New York, New York in the Borough of Manhattan, any claim that such
party is not subject personally to the jurisdiction of such court, that such
legal proceeding has been brought in an inconvenient forum, that the venue of
such proceeding is improper or that this Agreement or the subject matter of this
Agreement may not be enforced in or by such court.

            (c)   The parties hereto agree that, if any Proceeding is commenced
against any Indemnified Party by any Person in or before any court or other
tribunal anywhere in the world, then such Indemnified Party may proceed against
the Indemnifying Party in or before such court or other tribunal with respect to
any indemnification claim or other claim arising directly or indirectly from or
relating directly or indirectly to such Proceeding or any of the matters alleged
therein or any of the circumstances giving rise thereto.

      13.5  EXCLUSIVE REMEDIES; SPECIFIC PERFORMANCE. Except as expressly
provided herein or in any Transaction Agreement, the remedies provided in
Article 12 shall constitute the sole and exclusive remedy available to each
party hereto for recovery against another party for Breaches of the
representations, warranties, covenants and agreements in this Agreement. The
parties hereto acknowledge that the material covenants, obligations and other
provisions to be performed under this Agreement are of a special, unique and
extraordinary character, and that irreparable injury will result from any
violation or continuing violation of the provisions of this Agreement for which
money damages may not be an adequate remedy. Accordingly, the parties agree that
in the event of any Breach or threatened Breach by any party hereto of any
material covenant, obligation or other provision set forth in this Agreement,
the other party or parties shall be entitled (in addition to any other remedy
that may be available to it) to seek in accordance with applicable law, (i) a
decree or order of specific performance or mandamus to enforce the observance
and performance of such covenant, obligation or other provision, and (ii) an
injunction restraining such Breach or threatened Breach.

      13.6  DISPUTE RESOLUTION PROCEDURES. In the event any dispute arises
between the parties with respect to the interpretation of this Agreement or with
respect to the performance of either party, the parties shall first seek to
resolve such dispute by negotiations between senior executives who have
authority to settle the dispute. When a party believes there is a dispute
relating to the Agreement, such party shall give written notice of the dispute
to the other party or

                                      -38-
<PAGE>

parties subject to the dispute. The senior executives shall meet promptly after
the date of such notice and shall attempt in good faith within 45 days after the
date of such notice to resolve the dispute prior to initiating litigation with
respect to such matter. Notwithstanding the foregoing, if no such resolution is
reached within such 45 days, then any party may initiate any proceeding or
pursue any remedy it deems appropriate and that is not prohibited hereby.

      13.7  SUCCESSORS AND ASSIGNS; PARTIES IN INTEREST.

            (a)   This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto, the other Indemnified Parties, and the respective
successors and assigns (if any) of the foregoing. No Person (including any
creditor of Medicis or Ascent or any former or current employee of Ascent) who
is not a party to this Agreement shall have any rights hereunder as a
third-party beneficiary or otherwise.

            (b)   Neither this Agreement nor the rights and obligations of any
party hereunder shall be assigned without the prior written consent of the other
parties, which consent may be given or withheld in such party's sole discretion.
If Medicis or BioMarin or any of their respective successors (i) consolidates
with or merges into any other Person and shall not be the continuing or
surviving entity of such consolidation or merger or (ii) transfers all or
substantially all of its properties and assets to any Person, then, and in each
such case, proper provision shall be made so that the successors and assigns of
Medicis or BioMarin, as the case may be, shall assume the obligations set forth
in this Agreement.

      13.8  NOTICES. All notices, demands and other communications under or in
connection with this Agreement shall be in writing and shall be deemed properly
delivered, given and received (a) if delivered personally, upon delivery, (b) if
delivered by registered or certified mail (return receipt requested) from the
United States, upon the earlier of actual delivery or three Business Days after
being mailed, (c) if sent by overnight delivery by a recognized overnight
delivery service for overnight delivery, upon the earlier of actual delivery or
one Business Day after being sent, or (d) if given by facsimile, upon
confirmation of transmission by facsimile (or, if such confirmation does not
occur during normal business hours on a Business Day then on the next Business
Day), in each case to the parties at the following addresses or facsimile
numbers or to such other address or facsimile numbers as each party may
designate for itself by like notice to the other parties:

                                      -39-
<PAGE>

   if to Medicis:

                     Medicis Pharmaceutical Corporation
                     8125 N. Hayden Road
                     Scottsdale, Arizona  85258
                     Facsimile:  (602) 778-6007
                     Attn:  Jonah Shacknai

   With a copy to each of (which copies shall not constitute notice):

                     Ascent Pediatrics Corporation
                     8125 N. Hayden Road
                     Scottsdale, Arizona 85258
                     Facsimile:  (602) 808-3881
                     Attn:  General Counsel

                     and

                     Akin Gump Strauss Hauer & Feld LLP
                     1700 Pacific Ave., Suite 4100
                     Dallas, Texas 75201
                     Facsimile: (214) 969-4343
                     Attention: Michael E. Dillard, P.C.

   if to Ascent:

                     Ascent Pediatrics, Inc.
                     8125 N. Hayden Road
                     Scottsdale, Arizona  85258
                     Facsimile:  (602) 778-6007
                     Attn:  Jonah Shacknai:

   if to BioMarin:

                     BioMarin Pharmaceutical Inc.
                     371 Bel Marin Keys Blvd., Suite 210
                     Novato, California 94949
                     Facsimile: (415) 382-7889
                     Attention:  Fredric D. Price

   if to BioMarin Acquisition:

                     BioMarin Pharmaceutical Inc.
                     371 Bel Marin Keys Blvd., Suite 210
                     Novato, California 94949
                     Facsimile: (415) 382-7889
                     Attention:  Fredric D. Price

                                      -40-
<PAGE>

      With a copy (which copies shall not constitute notice) to:

                     BioMarin Pediatrics Inc.
                     371 Bel Marin Keys Blvd., Suite 210
                     Novato, California 94949
                     Facsimile: (415) 382-7889
                     Attention:  Fredric D. Price

                     Paul, Hastings, Janofsky & Walker LLP
                     515 South Flower Street, 25th Floor
                     Los Angeles, California  90071
                     Attention:  Siobhan McBreen Burke, Esq.
                     Telephone:    (213) 683-6000
                     Facsimile:    (213) 627-0705

      13.9  HEADINGS. The headings contained in this Agreement are for
convenience of reference only, shall not be deemed to be a part of this
Agreement and shall not be referred to in connection with the construction or
interpretation of this Agreement.

      13.10 COUNTERPARTS. This Agreement may be executed in several counterparts
(including by facsimile), each of which shall constitute an original and all of
which, when taken together, shall constitute one agreement.

      13.11 SEVERABILITY. In the event that any provision of this Agreement, or
the application of any such provision to any Person or set of circumstances,
shall be determined to be invalid, unlawful, void or unenforceable to any
extent, the remainder of this Agreement, and the application of such provision
to Persons or circumstances other than those as to which it is determined to be
invalid, unlawful, void or unenforceable, shall not be impaired or otherwise
affected and shall continue to be valid and enforceable to the fullest extent
permitted by law.

      13.12 WAIVER. No failure on the part of any Person to exercise any power,
right, privilege or remedy under this Agreement, and no delay on the part of any
Person in exercising any power, right, privilege or remedy under this Agreement,
shall operate as a waiver of such power, right, privilege or remedy; and no
single or partial exercise of any such power, right, privilege or remedy shall
preclude any other or further exercise thereof or of any other power, right,
privilege or remedy. No Person shall be deemed to have waived any claim arising
out of this Agreement, or any power, right, privilege or remedy under this
Agreement, unless the waiver of such claim, power, right, privilege or remedy is
expressly set forth in a written instrument duly executed and delivered on
behalf of such Person; and any such waiver shall not be applicable or have any
effect except in the specific instance in which it is given.

      13.13 AMENDMENTS. This Agreement may not be amended, modified, altered or
supplemented other than by means of a written instrument duly executed and
delivered on behalf of BioMarin Acquisition, BioMarin, Medicis and Ascent.

                                      -41-
<PAGE>

      13.14 MEDICIS PERFORMANCE GUARANTEE.

            (a)   Medicis hereby unconditionally, irrevocably and absolutely
guarantees to BioMarin and BioMarin Acquisition the due and punctual performance
and discharge of all of Ascent's obligations under this Agreement (collectively,
the "ASCENT OBLIGATIONS"). The guarantee under this Section 13.14 is a guarantee
of performance of the Ascent Obligations and not merely of collection.

            (b)   To the fullest extent permitted by applicable law, the
obligations of Medicis hereunder shall remain in full force and effect without
regard to, and shall not be affected or impaired by, (i) any change in the
corporate structure or ownership of Ascent or the bankruptcy, insolvency,
reorganization, dissolution, liquidation, or other similar proceeding relating
to Ascent or any Affiliate or Subsidiary of either Ascent or Medicis or (ii) any
neglect, delay, omission, failure or refusal of Medicis to take or prosecute any
action in connection with this Agreement or any other agreement, delivered in
connection herewith. In connection with this Section 13.14, Medicis
unconditionally waives: (i) any right to receive demands, protests, or other
notices of any kind or character whatsoever provided that the same has been
delivered to Ascent, (ii) any right to require BioMarin or BioMarin Acquisition
to proceed first against Ascent or to exhaust any security held by BioMarin or
BioMarin Acquisition or to pursue any other remedy, (iii) any defense based upon
an election of remedies by BioMarin or BioMarin Acquisition, (iv) any duty of
BioMarin or BioMarin Acquisition to advise Medicis of any information known to
BioMarin or BioMarin Acquisition regarding Ascent or its ability to perform
under this Agreement, and (v) all suretyship and other defenses of every kind
and nature.

            (c)   The obligations of Medicis under this Section 13.14 shall be
automatically reinstated if and to the extent that for any reason any payment or
other performance by or on behalf of Ascent in respect of the Ascent Obligations
are rescinded or must be otherwise restored, and Medicis agrees that it will
indemnify BioMarin and BioMarin Acquisition on demand for all costs and expenses
(including reasonable attorneys fees and expenses) incurred by BioMarin or
BioMarin Acquisition in connection with such rescission or restoration. If in
connection with the foregoing, BioMarin or BioMarin Acquisition is required to
refund part or all of any payment of Ascent, such payment by BioMarin or
BioMarin Acquisition shall not constitute a release of Medicis from any
liability hereunder, and Medicis' liability hereunder shall be reinstated to the
fullest extent allowed under applicable law and shall not be construed to be
diminished in any manner.

      13.15 BIOMARIN PERFORMANCE GUARANTEE.

            (a)   BioMarin hereby unconditionally, irrevocably and absolutely
guarantees to Medicis and Ascent the due and punctual performance and discharge
of all of BioMarin Acquisition's obligations under this Agreement, including,
without limitation, the due and punctual payment of the Licensed Payments and
the Contingent Payments Reimbursement Payments and any other amount that
BioMarin Acquisition is or may become obligated to pay pursuant to this
Agreement (collectively, the "BIOMARIN ACQUISITION OBLIGATIONS"). The guarantee
under this Section 13.15 is a guarantee of timely payment and performance of the
BioMarin Acquisition Obligations and not merely of collection.

                                      -42-
<PAGE>

            (b)   To the fullest extent permitted by applicable law, the
obligations of BioMarin hereunder shall remain in full force and effect without
regard to, and shall not be affected or impaired by, (i) any change in the
corporate structure or ownership of BioMarin Acquisition or the bankruptcy,
insolvency, reorganization, dissolution, liquidation, or other similar
proceeding relating to BioMarin Acquisition or any Affiliate or Subsidiary of
either BioMarin Acquisition or BioMarin or (ii) any neglect, delay, omission,
failure or refusal of BioMarin to take or prosecute any action in connection
with this Agreement or any other agreement, delivered in connection herewith. In
connection with this Section 13.15, BioMarin unconditionally waives: (i) any
right to receive demands, protests, or other notices of any kind or character
whatsoever, provided that the same has been delivered to BioMarin Acquisition,
(ii) any right to require Medicis or Ascent to proceed first against BioMarin
Acquisition or to exhaust any security held by Medicis or Ascent or to pursue
any other remedy, (iii) any defense based upon an election of remedies by
Medicis or Ascent, (iv) any duty of Medicis or Ascent to advise BioMarin of any
information known to Medicis or Ascent regarding BioMarin Acquisition or its
ability to perform under this Agreement, and (v) all suretyship and other
defenses of every kind and nature.

            (c)   The obligations of BioMarin under this Section 13.15 shall be
automatically reinstated if and to the extent that for any reason any payment or
other performance by or on behalf of BioMarin Acquisition in respect of the
BioMarin Acquisition Obligations are rescinded or must be otherwise restored,
and BioMarin agrees that it will indemnify Medicis and Ascent on demand for all
costs and expenses (including reasonable attorneys fees and expenses) incurred
by Medicis or Ascent in connection with such rescission or restoration. If in
connection with the foregoing, Medicis or Ascent is required to refund part or
all of any payment of BioMarin Acquisition, such payment by Medicis or Ascent
shall not constitute a release of BioMarin from any liability hereunder, and
BioMarin's liability hereunder shall be reinstated to the fullest extent allowed
under applicable law and shall not be construed to be diminished in any manner.

      13.16 ENTIRE AGREEMENT. The Transaction Agreements set forth the entire
understanding of the parties relating to the subject matter thereof and
supersede all prior agreements and understandings among or between any of the
parties relating to the subject matter thereof.

      13.17 CONSISTENCY. Each of the parties hereto agrees to report the
transaction contemplated herein for all state and federal Tax purposes as a
license and to treat the payments made by BioMarin Acquisition pursuant to
Section 4 as a payment for the use of the assets subject to the License and the
license granted under Section 2.1(b).

      13.18 NO PROJECTION OR FINANCIAL FORECAST. ASCENT IS NOT MAKING ANY
REPRESENTATION OR WARRANTY TO BIOMARIN AND BIOMARIN ACQUISITION WITH RESPECT TO
(I) ANY FINANCIAL PROJECTION OR FORECAST RELATING TO THE PEDIATRICS BUSINESS,
THE ACQUIRED ASSETS OR LIABILITIES OF MEDICIS OR ASCENT OR RELATED TO THE
PHARMACEUTICAL MARKET AS A WHOLE OR THE MARKET FOR ORAL LIQUID PREDNISOLONE
SOLUTION PRODUCTS OR ORAL DISSOLVING TABLET PREDNISOLONE PRODUCTS SPECIFICALLY,
INCLUDING BUT NOT LIMITED TO ANY PROJECTIONS INCLUDING

                                      -43-
<PAGE>

FUTURE SALES OF SUCH PRODUCTS, OR THE INTRODUCTION OF ANY COMPETITIVE PRODUCTS
(WHETHER GENERIC OR NAME BRAND).

      13.19 RELEASE. In the event that Ascent becomes a wholly-owned Subsidiary
of Licensee or any of its Affiliates, without any action of any party, on the
date Ascent becomes such a Subsidiary, Medicis shall no longer be deemed a party
to this Agreement and all rights and obligations of Medicis hereunder shall be
deemed extinguished; provided, however, that the obligation of Medicis to
guarantee indemnification of the BioMarin Indemnitees shall survive termination
of this Agreement in accordance herewith.

      13.20 FEES AND EXPENSES; INVESTMENT BANKING FEES.

            (a)   Each party to this Agreement shall bear and pay all fees,
costs and expenses (including all legal fees and expenses, that have been
incurred or that are in the future incurred by, on behalf of or for the benefit
of such party in connection with: (i) the negotiation, preparation and review of
any letter of intent or similar document relating to any of the transactions
contemplated hereby; (ii) the investigation and review conducted by such party
and its Representatives with respect to the transactions contemplated hereby;
(iii) the negotiation, preparation and review of this Agreement or any of the
documents delivered in connection herewith; (iv) the preparation and submission
of any filing or notice required to be made or given in connection with any of
the transactions contemplated hereby, and the obtaining of any consent required
to be obtained in connection with any of the transactions contemplated hereby;
and (v) the consummation and performance of the transactions contemplated
hereby.

            (b)   Notwithstanding anything to the contrary contained elsewhere
in this Agreement, each party to this Agreement shall pay its own investment
banking, broker or finder fees, if any, incurred in connection with the
transactions contemplated hereby.

      13.21 ATTORNEYS' FEES. If any legal action or other legal proceeding
relating to the Transaction Agreements or the enforcement of any provision of
any of the Transaction Agreements is brought by one party against any other
party to this Agreement, the prevailing party shall be entitled to recover
reasonable attorneys' fees, costs and disbursements (in addition to any other
relief to which the prevailing party may be entitled).

                                      -44-
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their duly authorized representatives as of the day
and year first above written.

ASCENT PEDIATRICS, INC.                       BIOMARIN PEDIATRICS INC.

By:________________________________           By:______________________________
Its:_______________________________           Its:_____________________________

MEDICIS PHARMACEUTICAL CORPORATION            BIOMARIN PHARMACEUTICAL INC.

By:________________________________           By:______________________________
Its:_______________________________           Its:_____________________________

                                       45<PAGE>

                                                                EXHIBIT 10.72(f)

                               FIFTH AMENDMENT TO
                           CREDIT & SECURITY AGREEMENT
                             DATED NOVEMBER 22, 2002

            NORWEST BANK ARIZONA, NATIONAL ASSOCIATION (as Successor
            in interest to Norwest Business Credit, Inc. - "Lender")

                 MEDICIS PHARMACEUTICAL CORPORATION ("Borrower")

<PAGE>

                FIFTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT

      THIS FIFTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT (the "Amendment") is
made as of the 22nd day of November, 2002 by and between MEDICIS PHARMACEUTICAL,
CORPORATION, a Delaware corporation ("Borrower"), and WELLS FARGO BANK ARIZONA,
NATIONAL ASSOCIATION, a national banking association, formerly known as NORWEST
BANK ARIZONA, NATIONAL ASSOCIATION, a national banking association ("Lender"),
as succcssor-in-interest to NORWEST BUSINESS CREDIT, INC., a Minnesota
corporation.

                                R E C I T A L S:

      WHEREAS, Borrower and Lender are parties to that certain Credit and
Security Agreement dated as of August 3, 1995, as modified by letter agreements
dated March 6, 1996 and April 11, 1996, First Amendment to Credit and Security
Agreement dated as of May 29, 1996 among Borrower, Norwest Business Credit, Inc.
("NBCI") and Lender, Second Amendment to Credit and Security Agreement dated as
of November 22, 1996 between Borrower and Lender, Third Amendment to Credit and
Security Agreement dated as of November 22, 1998 between Borrower and Lender,
and Fourth Amendment to Credit and Security Agreement dated as of November 22,
2000 between Borrower and Lender (collectively, the "Credit Agreement"),
pursuant to which Lender agreed to make available to Borrower a $25,000,000
revolving credit facility (the "Acquisitions Credit Facility") to finance
acquisitions of complementary businesses, brand product lines, brand purchase
contracts, licensing agreements, and internal product research and development
costs, which Acquisitions Credit Facility is evidenced by that certain
Replacement Acquisitions Revolving Note from Borrower payable to the order of
Lender in the principal amount of $25,000,000;

      WHEREAS, Borrower has requested that Lender extend the term of the Credit
Agreement and Acquisitions Credit Facility for an additional two (2) years and
Lender is willing to do so on the terms and conditions contained herein;

      NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrower and Lender, intending to
be legally bound, agree as follows:

      1. INTERPRETATION. Except as otherwise defined herein, all capitalized
terms used herein shall have the meanings ascribed thereto in the Credit
Agreement.

      2. RECITALS. The recitals set forth above are true and accurate in every
respect.

      3. OUTSTANDING INDEBTEDNESS. As of November 22, 2002: the outstanding
principal balance of the Revolving Loan is $0.00 and the accrued and unpaid
interest on the Revolving Loan is $0.00; the outstanding principal balance of
the Term Credit Facility is $0.00 and the accrued and unpaid interest on the
Term Credit Facility is $0.00; and the outstanding principal balance of the
Acquisitions Credit Facility is $0.00 and the accrued and unpaid interest on the
Acquisitions Credit Facility is $0.00.

<PAGE>

      4. NO OFFSETS. Borrower acknowledges with respect to the amounts owing to
Lender that, as of the date of execution of this Amendment (which may be after
the effective date of this Agreement), Borrower has no offset, defense or
counterclaim with respect thereto, no claim or defense in the abatement or
reduction thereof, or any other claim against Lender or with respect to any
document forming part of the transaction in respect of which the Acquisitions
Credit Facility was made or forming part of any other transaction under which
Borrower is indebted to Lender. Borrower acknowledges that all interest imposed
under the Acquisitions Credit Facility through the date of execution hereof, and
all fees and other charges that have been collected from or known by Borrower to
have been imposed upon Borrower with respect to the Acquisitions Credit Facility
evidenced by the Acquisitions Revolving Note were and are agreed to, and were
properly computed and collected, and that Lender has fully performed all
obligations that it may have had or now have to Borrower, and Lender has no
obligation to make any additional loan or extension of credit to or for the
benefit of Borrower, except as provided in the Credit Agreement, as amended by
this Amendment.

      5. REPRESENTATIONS AND WARRANTIES OF BORROWER. To induce Lender to enter
into this Amendment and the arrangement contemplated by this Amendment, Borrower
represents and warrants to Lender as follows:

            (a) This Amendment and all other instruments executed and delivered
to Lender concurrently herewith, were executed in accordance with the
requirements of law and in accordance with any requirements of Borrower's
certificate of incorporation and bylaws and any amendments thereto.

            (b) The execution and delivery of this Amendment and any other
instruments executed and delivered to Lender concurrently herewith, and the full
and complete performance of the provisions hereof will not result in any breach
of, or constitute a default under, or result in the creation of any lien, charge
or encumbrance upon any property or assets of Borrower under any indenture,
mortgage, deed of trust, bank loan or credit agreement or other instrument to
which Borrower is a party or by which Borrower is bound.

            (c) The Loan Documents executed by Borrower and this Amendment are
the legal, valid and binding obligations of Borrower enforceable against
Borrower in accordance with their terms.

            (d) Except as previously disclosed to Lender in writing, there are
no actions, suits or proceedings pending or, to the knowledge of the Borrower,
threatened against or affecting Borrower or any of its Subsidiaries or the
properties of Borrower or any of its Subsidiaries before any court or
governmental department, commission, board, bureau, agency or instrumentality,
domestic or foreign, which, if determined adversely to the Borrower or any of
its Subsidiaries, would reasonably be expected to have a material adverse effect
on the financial condition, properties or operations of the Borrower or any
Subsidiaries and where such claim(s) exceed $200,000 individually, or
$500,000 in the aggregate.

            (e) Except for the sale of TRIAZ under an Applicable License,
Borrower has not derived ten percent (10%) or more of Borrower's Net Sales in
any Fiscal Year from any Applicable License as described in Section 6.14 of the
Credit Agreement.

<PAGE>

            (f) Except as disclosed by Borrower to Lender in writing
contemporaneously with the execution and delivery of this Amendment, Borrower
does not have any patent applications pending before the PTO Office.

            (g) There are no oral agreements, understandings or course of
conduct that would modify, amend, rearrange, vary, diminish or impair the Loan
Documents or the obligation of Borrower to pay the indebtedness evidenced
thereby or to perform fully the obligations of Borrower in strict accordance
with the Loan Documents, or which would permit Borrower to void or avoid its
obligations in whole or in part.

            (h) All of the respective representations and warranties made by
Borrower in the Loan Documents remain true, complete and correct as of the date
hereof, including, without limitation, the representations and warranties in
Section 5 of the Credit Agreement, except to the extent of any changes to such
representations and warranties previously disclosed in writing to Lender.

No representation or warranty made by Borrower and contained herein or in the
other Loan Documents, and no certificate, information or report furnished or to
be furnished by Borrower in connection with any of the Loan Documents or any of
the transactions contemplated hereby or thereby, contains or will contain a
misstatement of material fact, or omits or will omit to state a material fact
required to be stated in order to make the statements contained herein or
therein not misleading in the light of the circumstances under which such
statements were made.

      6. CONTINUED ENFORCEABILITY OF LOAN DOCUMENTS. Except as modified herein,
all of the terms and provisions of the Loan Documents remain in full force and
effect. In the event of any conflict between the terms and provisions of this
Amendment and the terms and provisions of the Loan Documents, the terms and
provisions of this Amendment shall govern and prevail. Borrower acknowledges,
confirms and ratifies the enforceability of the Credit Agreement, the
Acquisitions Revolving Note and the Loan Documents, as modified pursuant to this
Amendment, and the continuing validity, enforceability and priority of the liens
and security interests granted in the Loan Documents.

      7. RELEASE OF CLAIMS.

         (a) Borrower hereby releases Lender and its officers, employees and
agents from all claims and demands (known and unknown) it may have on the date
hereof arising out of or in any way relating to the extension or denial of
credit by Lender to Borrower or other matters relating to the indebtedness, any
collateral securing payment and performance of such indebtedness, or any matter
preliminary to the execution and delivery by Borrower and Lender of this
Amendment. The release set forth above shall not extend to any claim arising
after the date of execution hereof (which may be after the effective date of
this Agreement) to the extent based on acts or omissions of Lender occurring
after such date, except that such release is specifically intended by the
parties to include the transactions leading up to the execution of this
Amendment. This Amendment and the release provisions contained in this Section 7
are contractual, and not a mere recital.

<PAGE>

            (b) Borrower acknowledges and agrees that Lender is not, and shall
not be, obligated in any way to continue or undertake any loan, financing or
other credit arrangement with Borrower, including, without limitation, any
renewal of the indebtedness evidenced by the Loan Documents, except on the terms
and subject to the conditions set forth in the Loan Documents as hereby amended
and modified.

            (c) Borrower understands and acknowledges that Lender and Account
Holder are separate and distinct corporate entities, as well as affiliate
corporations, and Borrower has knowingly and consciously made the determination
to proceed with the credit arrangements with Lender as provided in this Credit
Agreement and to maintain the investment advisor and custodian relationship with
Account Holder as provided in the Investment Agreement. Borrower (i) knowingly
waives and releases Lender for, from and against any claim, demand, cause of
action, liability, damages and expenses incurred by Borrower and (ii) covenants
and agrees that it will not claim, or attempt to claim, rights of setoff,
off-set, recoupment or the like against Lender, in the case of both clauses (i)
and (ii), arising out of, based upon, relating to, or otherwise occurring as a
result of, any acts or omissions of, or any breach of contract or tort or any
other theory of liability by, Account Holder. This provision is not intended to
affect any rights or remedies of Borrower against Lender pursuant to the Credit
Agreement.

      8. CONDITIONS OF CLOSING. Lender's obligation to enter into this Amendment
and the other documents and instruments required hereunder shall be subject to
the satisfaction of all of the following conditions on or before February 14,
2003 (the "Closing" or the "Closing Date") in a manner, form and substance
satisfactory to Lender, which conditions may be waived by Lender in writing in
its sole and absolute discretion.

            (a) On the Closing Date, the representations and warranties of
Borrower set forth in the Loan Documents shall be true and correct in all
material respects when made and at and as of the time of the Closing.

            (b) The following shall have been delivered to Lender, each duly
authorized, executed and acknowledged, where applicable, and in form and
substance satisfactory to Lender:

                  (i) This Amendment;

                  (ii) First Amendment to Amended and Restated Patent Collateral
Assignment and Security Agreement;

                  (iii) First Amendment to Amended and Restated Trademark,
Tradename and Service Mark Collateral Assignment and Security Agreement;

                  (iv) A certificate of the Secretary or an Assistant Secretary
of the Borrower, certifying as to the resolutions of the directors and, if
required, the shareholders of the Borrower, authorizing the execution, delivery
and performance of the Fifth Amendment and all other documents and instruments
incident thereto and to the transactions contemplated by the Fifth Amendment,
reasonably satisfactory to Lender and its counsel.

            (c) Borrower shall have performed and complied in all material
respects with all agreements and conditions contained in the Loan Documents to
be performed by or complied

<PAGE>

with by Borrower prior to or at the Closing, and no Event of Default or Default
shall have occurred and be continuing or would occur by Borrower entering into
this Amendment and each condition precedent to the effectiveness of each of the
Loan Documents shall have been satisfied.

            (d) Lender shall have received such documents as Lender shall
require to establish the proper organization and good standing of Borrower, the
authority of Borrower to execute this Amendment and any other documents or
instruments required hereunder, and evidence that all approvals and/or consents
of, or other action by, any shareholder, governmental agency or other Person
whose approval or consent is necessary or required to enable Borrower to (a)
enter into and perform its obligations under the Loan Documents and (b) grant to
Lender the Security Interests, have been obtained.

            (e) All filings of Uniform Commercial Code financing statements and
other filings and actions necessary to perfect and maintain the Security
Interests as first, valid and perfected security interest in the Collateral
shall have been filed or taken (or such filings delivered for filing immediately
following the Closing, to Lender or a third party acceptable to Lender) and
confirmation thereof shall have been received by Lender.

            (f) Lender shall have determined to its satisfaction that, as of the
Closing Date, there has been no material adverse change in the financial
condition of Borrower from the financial statements dated as of_______________,
2002 and other documents submitted by Borrower to Lender prior to the Closing
Date.

            (g) Borrower shall have paid to Lender an extension fee of $32,500,
which shall be fully earned and non-refundable upon Lender's execution and
delivery of this Amendment, and, when invoiced, Lender's reasonable attorneys'
fees and costs incurred in connection with this Amendment.

            (h) Lender shall be satisfied that (a) Borrower has good and
indefeasible title to all of the Collateral and (b) Borrower at all times shall
be entitled to the use and quiet enjoyment of all assets necessary and desirable
for the continued ownership and operation of Borrower's business, including,
without limitation, the use of equipment, licenses, fixtures and warehouses.

      9. DEFINITIONS. (a) The definition of "Maturity Date" in Section 1.1 of
the Credit Agreement is hereby deleted in its entirety and the following
inserted therefor:

                  "Maturity Date" means November 22, 2004.

and (a) Section 1.1 of the Credit Agreement is hereby amended to add the
following definitions in proper alphabetical order:

                  "Fifth Amendment" means that certain Fifth Amendment to Credit
            and Security Agreement dated as of November 22, 2002 between
            Borrower and Lender.

                  "Fourth Amendment" means that certain Fourth Amendment to
            Credit and Security Agreement dated as of November 22, 2000 between
            Borrower and Lender.

<PAGE>

      10. FEES. Section 2.11 of the Credit Agreement is hereby amended to add
the following:

            (g) Upon execution and delivery of the Fifth Amendment, Borrower
      agrees to pay to Lender an extension fee of $32,500, which shall be fully
      earned and non-refundable upon Lender's execution and delivery of the
      Fifth Amendment, and, when invoiced, Lender's reasonable attorneys' fees
      and costs incurred in connection with the Fifth Amendment.

      11. SECURITY INTEREST. Article 3 of the Credit Agreement is hereby amended
to add the following:

            3.6 Authorization to File Financing Statements. Borrower hereby
      irrevocably authorizes Lender at any time and from time to time to file a
      record in any filing office in any Uniform Commercial Code jurisdiction to
      perfect the lien on, and security interest in, the Collateral and to
      provide any information required by Article 9 of the Uniform Commercial
      Code of any jurisdiction for the sufficiency or filing office acceptance
      of any record. The Borrower agrees to furnish any such information to the
      Lender promptly upon the Lender's request. Borrower also ratifies its
      authorization for the Lender to have filed in any Uniform Commercial Code
      jurisdiction any record perfecting the lien on, and security interest in,
      the Collateral filed before the date of the Fifth Amendment.

      12. FINANCIAL CONDITION; NO ADVERSE CHANGE. Section 5.5 of the Credit
Agreement is hereby deleted in its entirety and the following inserted therefor:

            Section 5.5 Financial Condition; No Adverse Change. The Borrower has
      heretofore furnished to the Lender audited financial statements of the
      Borrower for its Fiscal Year ended June 30, 2002 and such statements
      fairly present the financial condition of the Borrower on the dates
      thereof and the results of its operations and cash flows for the period
      then ended and were prepared in accordance with generally accepted
      accounting principles applied in a consistent manner. Since the date of
      such financial statements of the Borrower, there has been no material
      adverse change in the business, properties or condition (financial or
      otherwise) of the Borrower.

      13. TOTAL LIABILITIES TO TANGIBLE NET WORTH. Section 6.16 of the Credit
Agreement is hereby deleted in its entirety and the following inserted therefor:

            Section 6.16 Total Liabilities to Tangible Net Worth. Borrower shall
      maintain on a consolidated basis, measured quarterly as of the last day of
      March, June, September and December, a ratio of total liabilities under
      GAAP to Tangible Net Worth of no more

<PAGE>

            than 3.0:1.0 from and including September 30, 2002 through the
            remaining term of this Agreement.

      14. MISCELLANEOUS.

            (a) Arbitration Agreement; Waiver of Right to Jury Trial. The
Agreement contains an arbitration provision, governing law provision and waiver
of right to jury trial. In the event of any dispute arising out of or related to
this Amendment, the provisions of Section 9.12 of the Agreement shall apply.

            (b) Voluntary Agreement. Borrower represents and warrants to Lender
that (i) it is, or has had the opportunity to be, represented by legal counsel
of its choice in regard to the transaction provided for by this Amendment and
that such counsel (if engaged) has explained the significance of the terms, and
the meaning and effect of this Amendment; (ii) it is fully aware and clearly
understands all of the terms and provisions contained in this Amendment; (iii)
it has voluntarily, with full knowledge and without coercion or duress of any
kind, entered into this Amendment and the documents executed in connection with
this Amendment; (iv) it is not relying on any representations, either written or
oral, express or implied, made to it by Lender other than as set forth in this
Amendment; and (v) the consideration received by Borrower to enter into this
Amendment and the arrangement contemplated by this Amendment has been actual and
adequate.

            (c) Entire Agreement. This Amendment and the Loan Documents
constitute the entire agreement among the parties as to the agreements and
understandings contemplated by this Amendment. All parties to this Amendment
acknowledge that there are no agreements, understandings, warranties or
representations among the parties except as set forth in the Loan Documents and
this Amendment.

            (d) Counterpart Execution. This Amendment may be executed in
counterparts, each of which shall be deemed an original document, and all of
which combined shall constitute a single document.

            (e) Waiver. Neither this Amendment nor any of the provisions hereof
may be changed, waived, discharged or terminated, except by an instrument in
writing signed by the party against whom enforcement of the change, waiver,
discharge or termination is sought.

            (f) Headings. Paragraph or other headings contained in this
Amendment are for reference purposes only and are not intended to affect in any
way the meaning or interpretation of this Amendment.

            (g) Severability. If any clause or provision of this Amendment is
determined to be illegal, invalid, or unenforceable under any present or future
law by the final judgment of a court of competent jurisdiction, such clause or
provision shall be ineffective, but the remainder of this Amendment will not be
affected thereby.

            (h) Binding Effect. All of the provisions of this Amendment shall be
binding upon and shall inure to the benefit of Borrower and Lender and their
permitted successors and

<PAGE>

assigns, including, without limitation, any successor holder of any Note and any
successor mortgagee/beneficiary under any security document.

            (i) Time of the Essence. Time is of the essence of each and every
provision under this Amendment.

            (j) Amendment. Except as specifically set forth herein, the
Agreement and the other Loan Documents shall remain in full force and effect. In
the event of a conflict between the terms and provisions of this Amendment and
the terms and provisions of the Agreement, the terms and provisions of this
Amendment shall govern and control. Nothing contained in this Amendment is
intended to or shall be construed as relieving any person or entity, whether a
party to this Amendment or not, of any of such person's or entity's obligations
to Lender.

                           [THE REMAINDER OF THIS PAGE
                          IS LEFT INTENTIONALLY BLANK]

<PAGE>

      IN WITNESS WHEREOF, this Amendment is executed to be effective as of the
date first above written.

                                BORROWER:

                                MEDICIS PHARMACEUTICAL CORPORATION,
                                a Delaware corporation

                                By: /s/ Mark A. Prygocki, Sr.
                                    -------------------------------------------
                                Name: Mark A. Prygocki, Sr.
                                Title: Executive Vice President and Chief
                                       Financial Officer

                                Execution Date: MARCH 6, 2003

                                LENDER:

                                WELLS FARGO BANK ARIZONA, NATIONAL
                                ASSOCIATION, a national banking association

                                By: /s/ Tim Billings
                                    -------------------------------------------
                                Name: Tim Billings
                                Title: Vice president

                                Execution Date: February,      2003

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]