EXHIBIT 11 MedChem Products, Inc. and Subsidiaries Computation of Primary and Fully Diluted Earnings Per Share Four months ended December 31, 1994 1993 ------------ ------------ Net income (loss) ($353,915) $757,990 PRIMARY : - - - - - - ------- Weighted average number of common shares outstanding 10,188,834 10,089,384 Dilutive effect of outstanding stock options 0 259,229 ------------ ------------ Weighted average number of common shares as adjusted 10,188,834 10,348,613 Primary earnings (loss) per share ($0.03) $0.07 ============ ============ FULLY DILUTED: - - - - - - ------------- Weighted average number of common shares outstanding 10,188,834 10,089,384 Dilutive effect of outstanding stock options 0 259,229 ------------ ------------ Weighted average number of common shares as adjusted 10,188,834 10,348,613 Fully diluted earnings (loss) per share ($0.03) $0.07 ============ ============