NPS Pharmaceuticals President and CEO Dr. Francois Nader Recognized By Ernst & Young as 2009 Entrepreneur of the Year Finalist in New Jersey

NPS Pharmaceuticals, Inc. (NASDAQ: NPSP), announced today that Francois Nader, MD, president and chief executive officer of NPS, was recognized as a finalist in the Ernst & Young Entrepreneur Of The Year^® 2009 Award in New Jersey. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance, and personal commitment to their businesses and community. Dr. Nader was named a finalist by a panel of independent judges and recognized last night at a gala event sponsored by Ernst & Young at the Teaneck Marriott at Glenpointe.

"It is an honor to have been recognized and nominated as a finalist for this prestigious award, and I would like to thank Ernst & Young, as well as the panel of independent judges. Over the past two years, we have assembled a very talented team and transformed NPS into a company well positioned for long-term success. By leveraging our assets carefully, we strengthened our financial position and launched two promising Phase 3 development programs in orphan indications. As a result, we have distinguished NPS as an organization with multiple prospects for near- and long-term success,” said Dr. Nader.

The Ernst & Young Entrepreneur Of The Year awards celebrate their 23^rd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.

Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.

In New Jersey, local sponsors include Bowne & Co., Curran & Connors, Gibbons P.C., NJBIZ and WithumSmith+Brown.

About NPS Pharmaceuticals

NPS Pharmaceuticals is developing new treatment options for patients with rare gastrointestinal and endocrine disorders. The company is currently conducting two Phase 3 registration studies. Teduglutide, a proprietary analog of GLP-2, is being evaluated as GATTEX™ in a Phase 3 registration study known as STEPS for intestinal failure associated with short bowel syndrome and in preclinical development for gastrointestinal mucositis and other pediatric indications. NPSP558 (parathyroid hormone 1-84 [rDNA origin] injection) is being evaluated in a Phase 3 registration study known as REPLACE as a hormone replacement therapy for hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, GlaxoSmithKline, Kyowa Kirin, Nycomed, and Ortho-McNeil. Additional information is available at http://www.npsp.com.

"NPS” and "NPS Pharmaceuticals” are the company’s registered trademarks. All other trademarks, trade names or service marks appearing in this press release are the property of their respective owners.

About Ernst & Young’s Entrepreneur Of The Year^® Awards Program

Ernst & Young’s Entrepreneur Of The Year^® Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year^® award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.