Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
WEST COAST ASSET MANAGEMENT INC
 2. Issuer Name and Ticker or Trading Symbol
NOVEN PHARMACEUTICALS INC [NOVN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)

2151 ALESSANDRO DRIVE, SUITE 100		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2007
(Street)


VENTURA, CA 93001		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

___ Form Filed by One Reporting Person
_X_ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock     3         I See Footnote (1)
Common Stock 08/16/2007   P4 49,700 A $ 15.82 3,206,524 I See Footnote (1)
Common Stock 08/28/2007   P4 96,435 A $ 15.38 3,206,524 I See Footnote (1)
Common Stock 09/27/2007   P4 19,800 A $ 16.07 3,206,524 I See Footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WEST COAST ASSET MANAGEMENT INC
2151 ALESSANDRO DRIVE
SUITE 100
VENTURA, CA 93001		     X    
Helfert Lance W
2151 ALESSANDRO DRIVE #100
VENTURA, CA 93001		     X    
Lowe R Atticus
2151 ALESSANDRO DRIVE #100
VENTURA, CA 93001		     X    
Orfalea Paul J
2151 ALESSANDRO DRIVE #100
VENTURA, CA 93001		     X    

Signatures

/s/Linda Schuman, Attorney-in-Fact 02/07/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Reporting Persons may be deemed beneficial owners of the shares reported because West Coast Asset Management, Inc.("WCAM") has the power to vote the shares pursuant to investor advisor agreements with the record owners. By virtue of their positions as members of the Investment Committee of WCAM who exercise shared voting and investment power over the shares. Messrs. Paul J. Orfalea, Lance W. Helfert, and R. Atticus Lowe may be deemed indirect beneficial owners, but each disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Of the 3,206,524 shares reported herein, 575,130 shares are held in trust accts., 173,300 shares are held in IRA accts., 530,481 shares are held in Foundation accts., 12,698 shares are held in corporate accts., 877,275 shares are held in high net worth individuals' accts., 924,310 shares are held in LLC accounts, 64,955 shares are held in LP accts., and 48,375 shares are held in profit sharing accts. managed by WCAM.

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