A medicated cosmetic formulation is provided which comprises one or more vitamin A vitamers, one or more depigmentation agents, and a chemical exfoliant. More particularly, the formulation comprises one or more retinoids as vitamin A vitamers, hydroquinone and/or kojic acid as depigmentation agents, and salicylic acid as a chemical exfoliant. The formulation reduces wrinkles, the appearance of blemishes, and photoaging. In some embodiments, additional ingredients are included, such as skin-colored pigments and ultra violet protection agents. Each of the aforementioned ingredients are provided in ratios that are safe and effective to facilitate collagen production, cell turnover, and depigmentation, and to stimulate blood vessels in the skin.
