Medicis

(MRX)

raised its earnings and revenue guidance after its merger with

Ascent Pediatrics

(ASCT)

was approved by Ascent shareholders on Thursday.

In the third quarter, the company now expects revenue of $56 million and earnings of 49 cents per share, up from previous expectations of $49 million and 48 cents per share. For the fourth quarter, revenue is expected to be $57.5 million, up from $53 million, while earnings are expected to be 54 cents, up 1 cent from previous expectations.

The Arizona-based pharmaceutical company said its new revenue forecast for 2002 is $210.5 million, up from $193.5 million. It raised its 2002 earnings guidance to $1.93 from $1.90.