Jubilant Organosys acquires DRAXIS Health
May 28, 2008
255.00 Million USD
On May 28, 2008, Jubilant Organosys Ltd., an Indian pharmaceutical industry company, acquired all the outstanding common shares of DRAXIS Health Inc., one of Canada’s premier specialty pharmaceutical companies, at a price of US$6.00 per share in cash by way of a statutory plan of arrangement pursuant to the Canada Business Corporations Act. With this acquisition, Jubilant becomes one of the leading providers of contract manufacturing of small volume parenterals to large pharmaceuticals and biotech companies in North America. The total value of this transaction was approximately US$255 million.
McCarthy Tétrault LLP advised DRAXIS with a team led by Vanessa Grant.