A $455 million bid has won Medicis Pharmaceuticals Corp. the skin treatment maker, Graceway Pharmaceuticals LLC as the result of a bankruptcy auction.

 The Scottsdale, Arizona-based company, Medicis, auctioned to acquire the skin treatment and asthma medication maker after they filed for bankruptcy in September.

In order for the acqusition to be complete, Medicis must still wait for approval from the board at Graceway and the bankruptcy court. The hearing for this will occur on Nov. 22. Graceway filed for bankruptcy after a sales decline occurred when they lost the patent protection to their best selling product.  

If you or a loved one has been considering filing for bankruptcy, you need experienced representation on your side. Contact the Arizona business bankruptcy lawyers of the Harmon Law Office by calling 480-829-0494 tody in order to discuss your case.