Exhibit 23.1

                         Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-66739) pertaining to the Savings Plan of Penwest Pharmaceuticals Co.
of our report dated June 23, 2003, with respect to the financial statements and
schedule of the Penwest Pharmaceuticals Co. Savings Plan included in this Annual
Report (Form 11-K) for the year ended December 31, 2002.

                                                           /s/ Ernst & Young LLP

Stamford, Connecticut
June 24, 2003