DRAXIS Health Reports Fourth Quarter and Year E...(----------------------------------------...),Health

$ (551) $ 3,687 Net income (loss) $ 1,658 $ 11,547

-------------------------------------------------------------------------

-------------------------------------------------------------------------

$ (0.01) $ 0.09 Basic earnings (loss) $ 0.04 $ 0.28

per share (Note 4)

---------------------

$ (0.01) $ 0.09 Diluted earnings (loss) $ 0.04 $ 0.28

per share (Note 4)

-----------------------

Weighted-average number

of shares outstanding

41,978,362 41,544,683 - basic 41,955,989 41,592,507

41,978,362 41,654,103 - diluted 42,096,250 41,675,682

-------------------------------------------------------------------------

-------------------------------------------------------------------------

See the accompanying notes to the Consolidated Financial Statements.

These interim financial statements should be read in conjunction with

the annual Consolidated Financial Statements.

DRAXIS HEALTH INC.

Consolidated Balance Sheets

In Accordance with U.S. GAAP

-------------------------------------------------------------------------

(in thousands of U.S. dollars except share related data)

(unaudited)

December 31, December 31,

2007 2006

------------- -------------

ASSETS

Current assets

Cash and cash equivalents $ 24,796 $ 21,446

Restricted cash 1,326 -

Accounts re
'/>"/>