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

Total liabilities $ 16,593 $ 13,547

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SHAREHOLDERS' EQUITY

Common stock, without par value of

unlimited shares authorized $ 79,814 $ 77,749

Additional paid-in capital 15,984 15,475

Deficit (6,576) (8,234)

Accumulated other comprehensive income 22,119 7,425

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Total shareholders' equity 111,341 92,415

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Total liabilities and shareholders' equity $ 127,934 $ 105,962

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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 Statements of Changes in Equity and Comprehensive Income

(Loss)

In Accordance with U.S. GAAP

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

(unaudited)

For the Three-Month Periods For the Years

Ended December 31, Ended December 31,

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2007 2006 2007 2006

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