Exhibit 11

Noven Pharmaceuticals, Inc.
Computation of Earnings per Share
(in thousands except per share amounts)

	2005		2004		2003
Basic earnings:
Net income	$	9,972	$	11,224	$	11,196
Weighted average number of common shares outstanding		23,566		23,332		22,544
Basic earnings per share	$	0.42	$	0.48	$	0.50
Diluted earnings:
Net income	$	9,972	$	11,224	$	11,196
Weighted average number of common shares outstanding		23,566		23,332		22,544
Potential dilution on exercise of stock options		415		973		445
Weighted average number of common shares outstanding, as adjusted		23,981		24,305		22,989
Diluted earnings per share	$	0.42	$	0.46	$	0.49