Abstract: A composition comprising cyclodextrin and an &agr;-hydroxy acid complexed by the cyclodextrin. A pharmaceutical preparation comprising a cyclodextrin-&agr;-hydroxy acid complex and a pharmaceutically acceptable adjuvant. A combination of a cyclodextrin/&agr;-hydroxy acid complex and an applicator having an applicator head with alternating grooves and ridges disposed on the applicator head. A method of treating a skin area comprising applying a cyclodextrin/&agr;-hydroxy acid complex to the skin area in a pharmaceutically effective amount.