<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<FILENAME>c75799exv21.txt
<DESCRIPTION>SUBSIDIARIES OF THE REGISTRANT
<TEXT>
<PAGE>
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                                                                      EXHIBIT 21

                 SUBSIDIARIES OF SHEFFIELD PHARMACEUTICALS, INC.

<TABLE>
<CAPTION>
                        Name                                        Jurisdiction of Incorporation
                        ----                                        -----------------------------

<S>                                                                 <C>
1.  Ion Pharmaceuticals, Inc. (100% owned subsidiary)                        Delaware

2.  CP Pharmaceuticals, Inc. (100% owned subsidiary)                         Delaware

3.  Systemic Pulmonary Delivery, Ltd. (100% owned subsidiary)                Bermuda

4.  Respiratory Steroid Delivery, Ltd. (80.1% owned subsidiary)              Bermuda
</TABLE>

                                       54


</TEXT>
</DOCUMENT>
