Anipryl sales in Canada cuts DAHI second-quarter loss; first complete quarter of veterinary pharmaceutical sales.

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Aug. 15, 1996--Deprenyl Animal Health Inc. (NASD OTC Bulletin Board:DAHI;TSE:DAH) Thursday reported total revenue of $75,114, including $48,132 from the sale of its veterinary pharmaceutical Anipryl(r) for the three months ended June 30, 1996.

DAHI had total revenue of $22,077, all from investment income, for the comparable three months of 1995.

Deprenyl Animal Health Inc. continues to fund research for additional indications of Anipryl(r) in geriatric dogs. It reported a net loss of $659,748, or 9 cents per share, for the 1996 second quarter, compared with a net loss of $758,639, or 12 cents per share, for the 1995 second quarter.

Six months' revenues for 1996 were $890,326, which included one-time revenues from the sale of distribution rights for Anipryl(r) in Canada to Draxis Health Inc. (NASDAQ:DRAXF;TSE:DAX) and a milestone payment from Hoechst Veterinar GmbH. The net loss for the six months ended June 30, 1996 was $443,318, or 6 cents per share, versus $1.4 million, or 21 cents per share, for the six months ended June 30, 1995.

Anipryl(r) is approved in Canada for treatment of canine Cushing's disease. The company is awaiting action from the U.S. Food & Drug Administration on its canine Cushing's disease application, which was submitted in September 1995. Approximately 165,000 cases of canine Cushing's disease are diagnosed each year in Canada and the U.S.

DAHI is also awaiting action from the Canadian Health Protection Branch, Bureau of Veterinary Drugs, on its application to market Anipryl(r) for cognitive dysfunction. Approximately 150,000 cases of cognitive dysfunction occur in Canada each year. The company continues its U.S. Phase III-equivalent clinical trial for Anipryl(r) as a treatment for cognitive dysfunction, which occurs in approximately 1.5 million older dogs each year.

During July 1996, the board of directors of Deprenyl Animal Health Inc. recommended the acceptance of an offer by Draxis to acquire the shares of DAHI not already owned by Draxis through a friendly tender offer. Draxis currently owns 44 percent of the outstanding common shares of DAHI, as well as DAHI convertible debt that, if converted, would result in an increase of Draxis' holdings in DAHI to 52 percent.

Under the terms of the transaction, Draxis would exchange 1.35 shares of its common stock for each outstanding share of DAHI not already owned by Draxis. Special meetings of the shareholders of the two companies will be held in the fall to vote on the transaction.

Draxis Health Inc., based in suburban Toronto, is a leading Canadian pharmaceutical company focused on neurology, dermatology and veterinary markets in Canada and the United States.

Deprenyl Animal Health was established in 1990 to develop animal health applications for Anipryl(r). The company is also identifying other animal health product opportunities to become a multi-product animal health pharmaceutical company.

CONTACT: Deprenyl Animal Health Inc.

David R. Stevens

913/338-2120

or

RKC Communications

Robert Kneeley

954/351-1976