NOVEN ANNOUNCES RECORD FINANCIAL RESULTS

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November 2, 1999

Reports Fifth Consecutive Quarter of Increased Profits
Revenues for First Nine Months Increase 65% Over Prior Year Period
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MIAMI, FL, November 2, 1999 - Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) today announced record financial results for the quarter and for the nine-month period ended September 30, 1999.

For the 1999 third quarter, Noven reported net income of $1,239,000 ($.06 per share) versus $140,000 ($.01 per share) for the third quarter of 1998. Revenues for the third quarter of 1999 were $8,060,000 versus $5,019,000 for the same quarter in 1998, an increase of 61%.

For the nine months ended September 30, 1999, net income was $2,913,000 ($.14 per share) versus a net loss of $4,694,000 ($.23 per share loss) for the comparable period in 1998. Revenues for the first nine months of 1999 were $23,030,000 versus $13,961,000 for the comparable nine months in 1998, an increase of 65%.

Noven's cash and short term equivalents at September 30, 1999 were $9,633,000, up from $7,293,000 at June 30, 1999 and $5,573,000 at December 31, 1998.

Third quarter financial results do not include the previously announced $2.7 million payment received by Noven in connection with the recent sublicense of Noven's Estalis® and Menorest® products by Novartis. That payment was received by Noven in October and will be reported in the 1999 fourth quarter.

"Our record third quarter marks our seventh consecutive quarter of improving results and our fifth consecutive quarter of profits," said Robert C. Strauss, Noven's President and Chief Executive Officer. "This trend has been driven in part by excellent physician and patient acceptance of our newest patch products in the U.S. Prescriptions for CombiPatch™, our combination estrogen/progestin patch marketed by Rhône-Poulenc Rorer, have increased every month since the launch of that product in September 1998. Similarly, the Vivelle® family of products, marketed by Novogyne Pharmaceuticals, has gained nearly five percentage points in market share of new transdermal ERT prescriptions since the launch of Vivelle-Dot™ this summer. All in all, we are well positioned for a strong finish to 1999."

Mr. Strauss continued: "Notably, our improving financial results do not yet reflect any meaningful international contribution from our Estalis® combination patch, which Novartis recently sublicensed in all markets except the U.S. and Japan. In the quarters to come, however, we expect that to change as Novartis launches Estalis® in the many European countries where it is approved but not yet marketed and in other territories around the world."

A telephone conference among management and equity analysts relating to Noven's financial results will be broadcast live via the Internet at www.noven.com beginning at 10:00 a.m. Eastern time today, November 2. Thereafter, a rebroadcast of the call will be accessible at the same site. In addition, a taped replay of the conference call will be available by telephone from November 2 at 1:00 p.m. Eastern time to November 4 at 11:59 p.m. by calling 800-475-6701 (from within the U.S.) or 320-365-3844 (from outside the U.S.) and entering the access code 479208.

Noven Pharmaceuticals, Inc., headquartered in Miami, Florida, is a leader in the development of transdermal and transmucosal drug delivery technologies. Together with Novartis Pharmaceuticals, Noven owns a women's health company called Novogyne Pharmaceuticals.

Noven's existing products include advanced estrogen transdermal delivery systems (including Vivelle-Dot™, licensed to Novogyne); combination estrogen/progestin transdermal delivery systems (including CombiPatch™, licensed to Rhône-Poulenc Rorer, and Estalis®, licensed to Novartis Pharma AG); and the first transmucosal patch delivery system approved by the FDA (DentiPatch®). With a range of additional products in development, including a transdermal methylphenidate patch for Attention Deficit Hyperactivity Disorder, Noven is committed to becoming the world's premier developer, manufacturer and marketer of transdermal and transmucosal drug delivery systems.

For additional information on Noven, visit the company's Web site at www.noven.com.

Forward looking statements contained in this release are qualified by and subject to the risks and uncertainties specified by Noven in its most recent filings with the Securities and Exchange Commission, including the risk that Novartis' orders or sales of Noven's products may be less than expected and may negatively impact future results.

CONTACT: Noven Pharmaceuticals Inc.,Miami
                     James B. Messiry, Chief Financial Officer
                     305/253-1916
KEYWORD: cdbud FLORIDA
INDUSTRY KEYWORD: PHARMACEUTICAL MEDICINE EARNINGS

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Copyright ©  1999 Noven Pharmaceuticals, Inc. All rights reserved.