EXHIBIT 11 MedChem Products, Inc. and Subsidiaries Computation of Primary and Fully Diluted Earnings Per Share (UNAUDITED) Three months ended March 31, 1995 1994 ---------- ---------- Net income $805,353 $1,083,136 PRIMARY: Weighted average number of common shares outstanding 10,233,255 10,089,384 Dilutive effect of outstanding stock options 116,895 240,864 ---------- ---------- Weighted average number of common shares as adjusted 10,350,150 10,330,248 Primary earnings per share $0.08 $0.10 ========== ========== FULLY DILUTED: Weighted average number of common shares outstanding 10,233,255 10,089,384 Dilutive effect of outstanding stock options 116,895 240,864 ---------- ---------- Weighted average number of common shares as adjusted 10,350,150 10,330,248 Fully diluted earnings per share $0.08 $0.10 ========== ==========