NOVEN NAMED TRANSDERMAL DRUG DELIVERY COMPANY OF THE YEAR BY FROST & SULLIVAN

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Miami, FL, November 2, 2006 -- Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) today announced that the global growth consulting company Frost & Sullivan has named Noven its 2006 Transdermal Drug Delivery Company of the Year, citing the competitive advantages of Noven’s patented DOT Matrix™ transdermal technology, the continued success of its commercialized transdermal systems, and its continuing efforts to enter new markets with innovative products.

"Noven Pharmaceuticals, through its DOT Matrix™ technology, has created the gold standard to which all passive patches are compared,” said Frost & Sullivan Industry Analyst Jason McKinnie. "Noven's continuing success in the hormone replacement therapy market is a tribute to the quality, design, and reliability the company has generated with its technology. Additionally, their newly released Daytrana™ patch, marketed by Shire plc, is introducing DOT Matrix™ technology to an ADHD market that has never seen the benefits of a transdermal product."

"We appreciate being recognized as the Transdermal Drug Delivery Company of the Year," said Juan Mantelle, Noven's Vice President & Chief Technical Officer, "and we will continue our commitment to develop optimized patches that make a meaningful difference in the lives of patients."

About the Award
The Frost & Sullivan Award for Company of the Year is presented each year to the company that has demonstrated excellence in all operations within the transdermal delivery market. Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. For more information, visit www.awards.frost.com.

About Noven
Noven Pharmaceuticals, Inc., headquartered in Miami, Florida, is a leading developer of advanced transdermal drug delivery technologies and prescription transdermal products. Noven’s prescription patches are approved in over 30 countries and include Vivelle-Dot™ (the most prescribed estrogen patch in the U.S.) and Daytrana™ (the first and only patch approved for the treatment of ADHD). A range of new patches is under development by Noven in collaboration with industry partners. Noven is committed to expanding the universe of available transdermal therapies for the benefit of patients, partners and shareholders. See www.noven.com for additional information.

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve substantial risks and uncertainties. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the current expectations of Noven and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond Noven's control. These risks and uncertainties include the possibility that the market acceptance of Noven’s existing products may not continue and that Noven may not be successful in commercializing new products utilizing its technologies. For additional information regarding these and other risks associated with Noven’s business, readers should refer to Noven’s Annual Report on Form 10-K for the year ended December 31, 2005 as well as other reports filed from time to time with the Securities and Exchange Commission.

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Copyright © 2006 Noven Pharmaceuticals, Inc. All rights reserved.