> /PRNewswire-FirstCall/ - DRAXIS Health Inc. ('DRAXIS') (TSX: DAX) (NASDAQ: DRAX) announced today that it has obtained a Final Order from the Quebec Superior Court in connection with the previously announced proposed statutory plan of arrangement under which all of DRAXIS' common shares will be acquired by an indirect wholly-owned subsidiary of Jubilant Organosys Ltd ('Jubilant') for US$6.00 per common share. The arrangement was approved by 99% of the votes cast by holders of DRAXIS' common shares, which was in excess of the 66 2/3% required, at the annual and special meeting of DRAXIS shareholders held May 23, 2008.

The transaction is expected to close shortly. The transaction remains subject to customary closing conditions.

About DRAXIS Health Inc.:

DRAXIS Health, through its wholly owned operating subsidiary, DRAXIS Specialty Pharmaceuticals Inc., provides products in three categories: sterile products, non-sterile products and radiopharmaceuticals. Sterile products include liquid and freeze-dried (lyophilized) injectables plus sterile ointments and creams. Non-sterile products are produced as solid oral and semi-solid dosage forms. Radiopharmaceuticals are used for both therapeutic and diagnostic molecular imaging applications. Pharmaceutical contract manufacturing services are provided through the DRAXIS Pharma division and radiopharmaceuticals are developed, produced, and sold through the DRAXIMAGE division. DRAXIS employs approximately 500 staff in its Montreal facility.

    For additional information please visit www.draxis.com

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This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act') and as contemplated under other applicable securities legislation. These statements can be identified by the use of forward-looking terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'estimate,' 'continue,' 'plan,' 'intend,' 'believe' or other similar words. These statements discuss future expectations concerning results of operations or financial condition or provide other forward-looking information. Our actual results, performance or achievements could be significantly different from the results expressed in, or implied by, those forward-looking statements. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made.

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