TORONTO, May 27 /CNW/ - DRAXIS Health Inc. ("DRAXIS") (TSX: DAX) (NASDAQ:
DRAX) announced today that it has obtained a Final Order from the Québec
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.
