DRAXIS Names GE Healthcare as Exclusive Distributor of DRAXIMAGE(R) Sestamibi in USA



    Strategic partnership with industry leader gives DRAXIMAGE strong
    competitive position in nuclear medicine's largest market segment

    MONTREAL, Dec. 20 /CNW/ - DRAXIMAGE, the radiopharmaceutical division of
DRAXIS Health Inc. (TSX: DAX) (NASDAQ:   DRAX), has appointed GE Healthcare, an
industry leader in nuclear medicine, as the exclusive distributor of
DRAXIMAGE(R) Sestamibi in the United States. DRAXIMAGE(R) Sestamibi is a
generic kit for the preparation of Technetium (Tc-99m) Sestamibi injection, a
diagnostic cardiac imaging agent used in myocardial perfusion imaging (MPI) to
evaluate blood flow to the heart. Cardiac imaging currently accounts for
nearly half of the more than 20 million nuclear medicine procedures conducted
in the United States.
    DRAXIMAGE has granted GE Healthcare the exclusive right to market,
distribute and sell its generic DRAXIMAGE(R) Sestamibi in the U.S. market and
through its U.S. and Canadian radiopharmacy network once the primary innovator
patent expires and marketing authorizations are received from the U.S. Food
and Drug Administration (FDA) and Health Canada. Furthermore, GE Healthcare
has agreed to purchase Technetium 99m Sestamibi injection exclusively from
DRAXIMAGE. The initial term of the distribution agreement is for a minimum of
three years following FDA approval of the DRAXIMAGE product.
    An Abbreviated New Drug Application (ANDA) for DRAXIMAGE(R) Sestamibi was
submitted by DRAXIMAGE to the FDA in February 2007 and this ANDA is currently
under review. In addition, DRAXIMAGE recently announced the filing of
DRAXIMAGE(R) Sestamibi with European and Canadian regulatory authorities
seeking additional marketing authorizations.
    "Working with GE Healthcare to bring this major product to the market is
a significant opportunity for both partners," said Jean-Pierre Robert,
President of DRAXIS Specialty Pharmaceuticals Inc., the operating subsidiary
of DRAXIS Health. "Strong distribution in the U.S., the world's largest market
for nuclear medicine, is a key element of the DRAXIMAGE comprehensive global
strategy to enter the cardiac imaging segment and the signing of this pivotal
agreement for the U.S. and Canada marks the completion of a major milestone in
our strategy,"
    "The DRAXIMAGE team, under Jean-Pierre's leadership, is to be commended
for achieving yet another of our key objectives toward fulfilling the
commitment made in March 2006 to pursue diagnostic cardiac imaging, a major
market not previously served by DRAXIMAGE," said Dan Brazier, acting President
of DRAXIS Health Inc. "As we continue to grow our company to the next level
through the implementation of projects like DRAXIMAGE(R) Sestamibi, strategic
alliances with dedicated partners such as GE Healthcare are expected to become
a more significant element in our business model."
    GE Healthcare owns and operates a comprehensive network of full-service
radiopharmacies dedicated to the practice of nuclear pharmacy in all major
urban centers across the United States and in Canada. GE Healthcare also
supplies a broad range of equipment, radiopharmaceuticals and other products
and services to radiopharmacies and nuclear medicine departments throughout
the United States, utilizing a well-trained and experienced sales force.
    "Nuclear Cardiology is a proven technology, and we're confident that our
partnership with DRAXIMAGE will expand the access to and applicability of
these procedures when and where they are needed," said John Chiminski,
President and CEO of GE Healthcare's Medical Diagnostics business. "This
agreement allows us to remain competitive and further demonstrates our
commitment to Nuclear Medicine, through Radiopharmacy performance and the
broadest product portfolio in the industry."
    According to Arlington Medical Resources, in 2006 there were more than
8 million cardiac studies conducted in the U.S. out of a total of over
20 million nuclear medicine procedures; making MPI the most widely performed
nuclear medicine scan in the US. Recent market research estimates indicate
that existing MPI products generate revenues in excess of $800 million
annually in the U.S. and that Sestamibi and tetrofosmin account for
approximately 90% of all MPI procedures.

    Cardiac Imaging with Tc-99m Sestamibi

    The sestamibi kit is used in nuclear medicine imaging to show how well
the heart muscle (myocardium) is supplied with blood (perfused) both at rest
and during strenuous activity. The radioisotope Technetium-99m is attached to
the sestamibi molecule forming Tc-99m Sestamibi. When injected into the
bloodstream this radiopharmaceutical agent is distributed throughout the heart
muscle in proportion to the blood flow received by various portions of the
heart. Heart images are then obtained using a gamma camera that can detect the
Technetium-99m. Two sets of images are typically taken, one while the patient
is at rest and a second set while the patient is under stress, often by
exercising on a treadmill or stationary bicycle. The resulting two sets of
images are compared with each other to diagnose the presence of coronary heart
disease by detecting areas of the heart that may not be receiving normal blood
flow. This imaging technique is known as cardiac stress testing or myocardial
perfusion imaging (MPI).

    About GE Healthcare

    GE Healthcare provides transformational medical technologies and services
that are shaping a new age of patient care. Our expertise in medical imaging
and information technologies, medical diagnostics, patient monitoring systems,
performance improvement, drug discovery, and biopharmaceutical manufacturing
technologies is helping clinicians around the world re-imagine new ways to
predict, diagnose, inform, treat and monitor disease, so patients can live
their lives to the fullest.
    GE Healthcare's broad range of products and services enable healthcare
providers to better diagnose and treat cancer, heart disease, neurological
diseases and other conditions earlier. Our vision for the future is to enable
a new "early health" model of care focused on earlier diagnosis,
pre-symptomatic disease detection and disease prevention. Headquartered in the
United Kingdom, GE Healthcare is a $17 billion unit of General Electric
Company (NYSE:   GE). Worldwide, GE Healthcare employs more than 46,000 people
committed to serving healthcare professionals and their patients in more than
100 countries. For more information about GE Healthcare, visit our website at
www.gehealthcare.com.

    About DRAXMAGE

    DRAXIMAGE develops, manufactures and markets diagnostic and therapeutic
radiopharmaceuticals for the global marketplace. Products currently include a
line of lyophilized technetium-99m kits used in nuclear medicine imaging
procedures and therapeutic products labeled with a variety of isotopes
including radioiodine.

    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 www.draxis.com.

    Caution Concerning Forward-Looking Statements

    This news release contains forward-looking statements within the meaning
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nature, forward-looking statements involve numerous assumptions, known and
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    -   the risks described in "Item 3. Key Information - Risk Factors" in
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    For additional information with respect to certain of these and other
factors, and relating to the Company generally, reference is made to the
Company's most recent filings with the United States Securities and Exchange
Commission (available on EDGAR at www.sec.gov) and the filings made by the
Company with Canadian securities regulators (available on SEDAR at
www.sedar.com). The forward-looking statements contained in this new release
represent the Company's expectations as at December 19, 2007. Unless otherwise
required by applicable securities laws, the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

    %SEDAR: 00004049E




For further information:

For further information: DRAXIS Health Inc., Jerry Ormiston, Executive
Director, Investor Relations, Phone: 1-877-441-1984, jormiston@draxis.com; GE
Healthcare, Brian McKaig, Director, Public Relations, Phone: (414) 721-2407,
brian.mckaig@ge.com

Organization Profile

DRAXIS SPECIALTY PHARMACEUTICALS INC.

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