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DRAXIS Health Reports Fourth Quarter and Year End Results
Date:2/7/2008

ng income (loss), among other factors to set performance goals

and to measure the performance of the overall company. The Company

believes that investors' understanding of our performance is enhanced

by disclosing these measures.

(2) The Company became entitled to and received non-recurring contingent

milestone payments from Shire.

(3) Insurance proceeds related to a business interruption claim filed

resulting from equipment damage during 2005 shutdown period.

(4) Reflects the change in the value of Deferred Share Unit Plan based on

the market price of the Company's common stock.

See Note 7 of accompanying interim financial statements.

Interim Financial Report

This release incorporates by reference the 2007 fourth quarter interim financial report, which includes financial statements for the quarter ended December 31, 2007, prepared in accordance with U.S. GAAP, as well as Management's Discussion & Analysis (MD&A) for the quarter. The interim report has been filed with applicable Canadian and U.S. securities regulatory authorities and is accessible on the Company's website at http://www.draxis.com in the Investor Relations section under Financial Reports and through the SEDAR and EDGAR databases and is also available upon request by contacting DRAXIS Investor Relations at 1-877-441-1984.

Conference Call

DRAXIS has scheduled a conference call to discuss fourth quarter and year end 2007 financial results at 10:00 a.m. (ET) on February 7, 2008. This call can be accessed by dialing 1-866-321-6651 and using Access Code 8659140, and will also be webcast live with access through the Company's website at http://www.draxis.com. The conference call will also be available in archived format on the Company's website for 30 days following the conference call.

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