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

external factors such as customer changes to the timing of product demand and delivery and a shortage of medical isotopes constrained profitability in the fourth quarter, these are short term factors that we believe will have minimal impact going forward."

Mr. Brazier also noted, "For the longer term, 2007 saw the completion of all non-financial milestones that contributed to the progress of key initiatives that will drive long term growth beginning in 2008. We filed submissions for DRAXIMAGE(R) Sestamibi with three regulators globally. We established a significant new contract for non-sterile products with Johnson & Johnson Consumer and broke ground on a second facility in the Montreal area that will help us service this new contract. We met our 2007 internal target for new business as part of our plan to replace declining production of Hectotol(R) injection. We successfully completed three FDA inspections, including two in the fourth quarter. We successfully concluded an agreement with GE Healthcare, a leader in the nuclear medicine sector, naming them as exclusive distributor of DRAXIMAGE(R) Sestamibi for the United States. We concluded an external evaluation of our MOLY-FILL(TM) Tc-99m Generator as part of the product development plan and in preparation for the next step in that product's regulatory review and approval process. We also completed upgrades to the Company's IT and SAP systems, including the installation of a new warehouse management system. All of these initiatives accomplished in 2007 bode well for the long term viability and growth of the Company going forward."

FINANCIAL HIGHLIGHTS

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

with U.S. GAAP)

For the Three-Month Periods For the Years

Ended December 31, Ended December 31,

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SOURCE DRAXIS Health Inc.
Copyright©2008 PR Newswire.
All rights reserved

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