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DRAXIS Obtains Final Order for Proposed Arrangement
Date:5/27/2008

Court approves acquisition of DRAXIS by Jubilant

TORONTO, May 27 /PRNewswire-FirstCall/ - DRAXIS Health Inc. ("DRAXIS") (TSX: DAX) (NASDAQ: DRAX) announced today that it has obtained a Final Order from the Quebec Superior Court in connection with the previously announced proposed statutory plan of arrangement under which all of DRAXIS' common shares will be acquired by an indirect wholly-owned subsidiary of Jubilant Organosys Ltd ("Jubilant") for US$6.00 per common share. The arrangement was approved by 99% of the votes cast by holders of DRAXIS' common shares, which was in excess of the 66 2/3% required, at the annual and special meeting of DRAXIS shareholders held May 23, 2008.

The transaction is expected to close shortly. The transaction remains subject to customary closing conditions.

About DRAXIS Health Inc.:

DRAXIS Health, through its wholly owned operating subsidiary, DRAXIS Specialty Pharmaceuticals Inc., provides products in three categories: sterile products, non-sterile products and radiopharmaceuticals. Sterile products include liquid and freeze-dried (lyophilized) injectables plus sterile ointments and creams. Non-sterile products are produced as solid oral and semi-solid dosage forms. Radiopharmaceuticals are used for both therapeutic and diagnostic molecular imaging applications. Pharmaceutical contract manufacturing services are provided through the DRAXIS Pharma division and radiopharmaceuticals are developed, produced, and sold through the DRAXIMAGE division. DRAXIS employs approximately 500 staff in its Montreal facility.
For additional information please visit http://www.draxis.com

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SOURCE DRAXIS Health Inc.
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