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EXHIBIT 11
Statement Regarding Computation of Earnings Per Share
DURAMED PHARMACEUTICALS, INC. AND SUBSIDIARIES
Three months ended Nine Months Ended
September 30, September 30,
1996 1995 1996 1995
----------------------------------------------------
Primary:
Weighted average common shares
outstanding 10,850,555 8,050,367 9,850,047 8,015,820
Assumed conversion of preferred
shares to common shares * 746,590 * 746,590
Net effect of dilutive stock options
and warrants - based on the
treasury stock method using the
average market price * 1,885,300 * 1,933,815
------------ ----------- ------------ -----------
Totals 10,850,555 10,682,257 9,850,047 10,696,225
============ =========== ============ ===========
Net (loss) income ($13,922,205) $ 317,207 ($18,233,954) $ 1,958,038
============ =========== ============ ===========
Per share amount $ (1.28) $ .03 $ (1.85) $ .18
============ =========== ============ ===========
Fully diluted:
Weighted average common shares
outstanding 10,850,555 8,050,367 9,850,047 8,015,820
Assumed conversion of preferred
shares to common shares * 746,590 * 746,590
Net effect of dilutive stock options
based on the treasury stock method
using the year-end market price, if
higher than average market price * 1,885,300 * 1,933,815
------------ ----------- ------------ -----------
Totals 10,850,555 10,682,257 9,850,047 10,696,225
Net (loss) income ($13,922,205) $ 317,207 ($18,233,954) $ 1,958,037
============ =========== ============ ===========
Per share amount $ (1.28) $ .03 $ (1.85) $ .18
============ =========== ============ ===========
<FN>
* Conversion of stock options and preferred shares not assumed in the
computations because their effect is antidilutive.
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