Nov. 21 (Bloomberg) -- Shares of Medicis Pharmaceutical Corp., which makes drugs to fill out lips and smooth wrinkles, rose in Germany after the company got a $2.2 billion hostile bid from Mentor Corp., a maker of plastic-surgery products.

The shares of Scottsdale, Arizona-based Medicis rose 3.43 euros to 27.05 euros ($31.98) in Frankfurt after closing at $27.75 in New York Stock Exchange composite trading Nov. 18. The board rejected the bid, Medicis said in a statement yesterday.

The offer from Santa Barbara, California-based Mentor comes after Medicis' bid for plastic surgery device maker Inamed Corp. was trumped last week. Companies are looking to increase their offerings of cosmetic treatments as the market expands with an aging U.S. population. Americans spent about $8.4 billion on 9.2 million cosmetic procedures last year, up 24 percent since 2000, according to the American Society of Plastic Surgeons.

Mentor's acquisition of Medicis would allow ``the combined company to establish a strong basis for sustainable competitive advantage in surgical and non-surgical cosmetic procedures in the plastic surgery and cosmetic dermatology markets,'' according to Mentor's statement.

Investors in Medicis would get 0.62 of a Mentor share for each of their shares, Mentor said yesterday in a Business Wire statement. The bid values Medicis stock at 25 percent more than the closing price on Nov. 18.

There have been 195 U.S. health-care products companies bought this year for a total of $12.2 billion, according to data on announced deals compiled by Bloomberg as of Nov. 15, compared with 169 deals worth $14.6 billion in the same period of 2004.

Mentor said Medicis's shareholders would benefit more from the company's sale than from a proposed $2.64 billion purchase of Santa Barbara, California-based Inamed.

Medicis's plan to buy Inamed has been stalled by requests from regulators and opposed by Inamed's third-largest shareholder, SAC Capital Advisors LLC, a hedge fund run by Steven Cohen.

Mentor said it's prepared to add cash to its offer for Medicis. The addition of Medicis would add to earnings ``immediately,'' the company said.

A call after hours yesterday to the office of Peter R. Nicholson, Mentor's vice president of strategic planning and investor relations, wasn't immediately returned.

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