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EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
DURAMED PHARMACEUTICALS, INC. AND SUBSIDIARIES
Year Ended December 31
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1995 1994 1993
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Primary:
Weighted average common shares
outstanding 8,026,359 7,815,808 6,725,659
Assumed conversion of preferred shares
to common shares --- 746,590 283,177
Net effect of dilutive stock options and
warrants - based on the treasury stock
method using the average market price --- 1,658,917 1,412,408
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Totals 8,026,359 10,248,315 8,421,244
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Net (loss) income ($1,113,687) $9,550,867 $ 1,215,086
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Per share amount ($0.14) $ .93 $ .14
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Fully diluted:
Weighted average common shares
outstanding 8,026,359 7,815,808 6,725,659
Assumed conversion of preferred shares
to common shares --- 746,590 306,144
Net effect of dilutive stock options - based
on the treasury stock method using the
year-end market price, if higher than
average market price --- 1,947,297 2,004,031
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Totals 8,026,359 10,509,695 9,035,834
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Net (loss) income $(1,113,687) $ 9,550,867 $ 1,215,086
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Per share amount $ (0.14) $ .91 $ .13
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Recognition of outstanding stock options and warrants for the purpose of
computing the weighted average number of common shares outstanding was not
required for the year ended December 31, 1995 due to reported losses, as their
effect would be anti-dilutive.