Annual and special meeting of shareholders set for May 23, 2008
TORONTO, April 24 /PRNewswire-FirstCall/ - DRAXIS Health Inc. ('DRAXIS')(TSX: DAX) (NASDAQ: DRAX) announced today that it has obtained an InterimOrder from the Quebec Superior Court in connection with the proposed statutoryarrangement under which all of DRAXIS' common shares will be acquired by asubsidiary of Jubilant Organosys Ltd ('Jubilant') for US$6.00 per commonshare. The arrangement will be considered at the annual and special meeting ofDRAXIS shareholders scheduled to be held at 10:00 a.m. (Toronto time) onFriday, May 23, 2008 at the offices of McCarthy Tetrault LLP, Suite 5300, TDBank Tower, Toronto, Ontario, Canada.
The record date for determining the holders of common shares of DRAXISentitled to receive notice of and to vote at the annual and special meeting ofshareholders is the close of business on April 24, 2008.
The Notice of Annual and Special Meeting and Management InformationCircular relating to the meeting will be mailed to DRAXIS shareholdersshortly. Once mailed, the Management Information Circular will be available atwww.sedar.com and www.sec.gov, as well as on DRAXIS' website atwww.draxis.com. The Circular provides important information about the proposedplan of arrangement, as well as important information regarding votingprocedures. All shareholders are urged to read the Circular once it isavailable.
About DRAXIS Health Inc.:
DRAXIS Health, through its wholly owned operating subsidiary, DRAXISSpecialty Pharmaceuticals Inc., provides products in three categories: sterileproducts, non-sterile products and radiopharmaceuticals. Sterile productsinclude liquid and freeze-dried (lyophilized) injectables plus sterileointments and creams. Non-sterile products are produced as solid oral andsemi-solid dosage forms. Radiopharmaceuticals are used for both therapeuticand diagnostic molecular imaging applications. Pharmaceutical contractmanufacturing services are provided through the DRAXIS Pharma division andradiopharmaceuticals are developed, produced, and sold through the DRAXIMAGEdivision.
