This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mentor Plots Cosmetic Change

One question posed during a telephone conference Monday was whether Mentor might make a hostile run at Medicis. Mentor CEO Levine declined to comment, saying only that his company "will wait for the dust to settle" before making the next step. The offer to Medicis was the only way to get that company's attention because of its dealing with Inamed, Levine said.

Medicis shareholders are scheduled to vote on the Inamed deal on Dec. 19. The transaction is under review by the Federal Trade Commission.

Mentor's Dilemma

Mentor's future appeal to investors will depend on how fast it gets U.S. approval for silicone breast implants for cosmetic uses, what price it gets for the urology businesses and how it can expand its presence in the skin-treatment market. Buying Medicis would easily answer the skin-care question.

Inamed and Mentor are dueling to be first on the U.S. market with silicone gel breast implants for cosmetic purposes. Both have received conditional approval from the Food and Drug Administration for their products, but they haven't said what they must do to secure final approval.

In the past, analysts speculated that the company getting to the market first would have an advantage, but now many believe the FDA will grant final approval at essentially the same time.

Mentor says a merger with Medicis will enable their combined sales forces to increase product offerings to cosmetic surgeons and dermatology specialists.

Because so-called aesthetics medicine is a "significant growth opportunity," Mentor said last month that it was evaluating alternatives for its urology business, meaning that if the price is right, it will sell.

Mentor's urology businesses, including urinary catheters, erectile dysfunction products and prostate cancer products, yielded $116.7 million in sales for the six months ended Sept. 30. Aesthetics products, mainly breast implants, but also skin and body products, delivered $132.8 million.

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs