Agreement Finalized for SGF to Invest in DRAXIS' Manufacturing Subsidiary, DRAXIS Pharma.Business Editors, Healthcare Writers MISSISSAUGA, Ontario For the First Nation, see . Mississauga (pronounced: [ˌmɪsɪˈsɑgə] listen and MONTREAL--(BUSINESS WIRE)--Feb. 21, 2000 DRAXIS Health Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DRAX; TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DAX.) today announced that it has finalized an agreement with Societe generale de financement du Quebec (SGF SGF Svenska Golfförbundet (Swedish Golf Federation) SGF Société Générale de Financement (Quebec, Canada) SGF Smart Game Format SGF Simulated Gastric Fluid ) whereby SGF has acquired a minority interest in DRAXIS' manufacturing subsidiary, DRAXIS Pharma Inc., for CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $7.5 million. DRAXIS Pharma is a cGMP compliant contract pharmaceutical manufacturer with capabilities in a broad range of sterile and non-sterile dosage forms for Canadian, U.S. and international markets. DRAXIS Pharma's 242,000 square-foot world class facility, located in Kirkland, Quebec Kirkland is a municipality on the Island of Montreal in southwestern Quebec, Canada. As of October 2005, the population was 21,735. It is named after Dr. Charles-Aimé Kirkland, a Quebec provincial politician. , was acquired by DRAXIS Health in 1998 and recently completed a $14 million capital improvement program including the installation of a sterile lyophilization lyophilization /ly·oph·i·li·za·tion/ (li-of?i-li-za´shun) the creation of a stable preparation of a biological substance by rapid freezing and dehydration of the frozen product under high vacuum. line. DRAXIS Pharma provides contract manufacturing services to a number of major pharmaceutical companies. The mission of the SGF is to carry out economic development projects in cooperation with the partners and in accordance with accepted requirements of profitability, in particular in the industrial sector. Since 1985, the SGF has produced investments in the region of $6.7 billion, thereby enabling the creation of 22,000 jobs, directly and indirectly. As of December 31, 1998, the consolidated assets of the SGF totalled $1.8 billion. Furthermore, the consolidated assets of all the companies in which the SGF holds a share represent an amount of $10 billion. The SGF is associated with 35 international partners conducting business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets in Quebec. DRAXIS Health Inc. is a diversified speciality pharmaceutical company operating in three niche markets: Radiopharmaceuticals (DRAXIMAGE), Canadian sales and marketing (DRAXIS Pharmaceutica) and Companion Animal Health (through its global alliance with Pfizer Inc.). DRAXIS supports its own as well as third party manufacturing requirements through its subsidiary, DRAXIS Pharma, located in Kirkland, Quebec. Except for historical information, this news release contains certain forward-looking statements that involve risk and uncertainties, which may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, changing market conditions, clinical trial results, the establishment of new corporate alliances, the impact of competitive products and pricing, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities |
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