When J. Michael Pearson, CEO of Valeant Pharmaceuticals International Inc., reached out to Medicis Pharmaceuticals International Inc. to discuss terms for a potential merger, it was the third time the two companies had had such discussions in the last 18 months. In previous talks, the value of Medicis' broad-spectrum tetracycline antibiotic, Solodyn (minocycline), had been a sticking point.