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DRAXIMAGE(R)'s generic Sestamibi Approved for launch in USA
Date:5/4/2009

Exclusive distribution agreement in place with GE Healthcare

NOIDA, India, May 4 /PRNewswire/ - Jubilant Organosys Ltd, headquartered in India, announced today that its subsidiary in the United States, DRAXIMAGE LLC has received US Food and Drug Administration (FDA) approval for the Company's Abbreviated New Drug Application (ANDA) for DRAXIMAGE(R)'s generic Sestamibi. The product is found to be bioequivalent and therapeutically equivalent to reference listed drug Cardiolite(R).

DRAXIMAGE(R) Sestamibi, is a generic kit used in the preparation of Technetium (Tc-99m) Sestamibi injection - a diagnostic cardiac imaging agent used in Myocardial Perfusion Imaging (MPI), to evaluate the flow of blood to the heart. The MPI market size is currently estimated at USD 400 million.

Jubilant, through its subsidiary in the US, has an exclusive distribution agreement with GE Healthcare to distribute and sell DRAXIMAGE(R)'s generic Sestamibi through GE Healthcare's nuclear pharmacy network in the US.

Commenting on the development, Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman of Jubilant Organosys said: "We are very excited to receive the USFDA approval of one of our key radiopharma products which strengthens our position in this business. We are ready to launch DRAXIMAGE(R) Sestamibi in the market and will see a steady flow of revenues from this product from Q1 FY10. As we are the second generic player in the market and there is very limited competition,we expect moderate price erosion for this product."

The DRAXIMAGE(R)'s generic Sestamibi USFDA approval is a significant milestone for the Company's radiopharma business. Along with the earlier approvals in Canada and distribution agreement with Guerbet for Europe, the Company is well positioned to capture a significant market share for this product in the regulated markets. Going forward the Company plans to introduce this product in the Asian markets, Australia
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SOURCE DRAXIS Specialty Pharmaceuticals Inc.
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