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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 F93duoMb71VZACpiTnxVVlQ0yklbs+PAvfj1cxcZtYDY+bb69i2fW/bfVU//rC1W
 UP2yWNA2tIq/Stig607cpQ==

<SEC-DOCUMENT>0000902664-07-002795.txt : 20070912
<SEC-HEADER>0000902664-07-002795.hdr.sgml : 20070912
<ACCEPTANCE-DATETIME>20070912161342
ACCESSION NUMBER:		0000902664-07-002795
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070911
FILED AS OF DATE:		20070912
DATE AS OF CHANGE:		20070912

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OSS CAPITAL MANAGEMENT
		CENTRAL INDEX KEY:			0001218321

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17254
		FILM NUMBER:		071113428

	MAIL ADDRESS:	
		STREET 1:		605 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10158

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVEN PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000815838
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				592767632
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		11960 SW 144TH ST
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33186
		BUSINESS PHONE:		3052535099

	MAIL ADDRESS:	
		STREET 1:		11960 SW 144TH STREET
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33185
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-09-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000815838</issuerCik>
        <issuerName>NOVEN PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>NOVN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001218321</rptOwnerCik>
            <rptOwnerName>OSS CAPITAL MANAGEMENT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>598 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock ($.0001 par value)</value>
            </securityTitle>
            <transactionDate>
                <value>2007-09-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>77500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>15.48</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2784190</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See  Footnote</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is being filed to report that O.S.S. Capital Management LP, a Delaware limited partnership (the &quot;Investment
 Manager&quot;), Schafer Brothers LLC, a Delaware limited liability company (the &quot;SB LLC&quot;) and Mr. Oscar S. Schafer (&quot;Mr.
 Schafer&quot;, collectively with the Investment Manager and SB LLC,  the &quot;Reporting Persons&quot;) have purchased an additional 77,500
 shares of Noven Pharmaceuticals Inc. (the &quot;Issuer&quot;) common shares. The Reporting Persons have investment discretion with
 respect to securities held by a Cayman Islands exempted company and two Delaware limited partnerships as more fully
 described in the Form 3 filed on July 16, 2007 (Accession Number:  0000902664-07-002296), the Form 4 filed on August 8, 2007
 (Accession Number: 0000902664-07-002474) and the Form 4 filed on August 14, 2007 (Accession Number 0000902664-07-002630).</footnote>
        <footnote id="F2">Each of the Investment Manager, SB LLC and Mr. Schafer may be deemed to beneficially own 2,784,190 shares of common stock,
 which represent, together, approximately 11.2% of the outstanding shares of common stock. Each of the Investment Manager, SB
 LLC, and Mr. Schafer disclaims beneficial ownership of the securities included in this report and this report shall not be
 deemed an admission that either the Investment Manager, SB LLC, or Mr. Schafer is the beneficial owner of such securities
 for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Oscar S. Schafer</signatureName>
        <signatureDate>2007-09-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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