DRAXIS Reaches Tentative Agreement with Union.Business Editors/Health/Medical Writers MISSISSAUGA, Ontario--(BUSINESS WIRE)--Jan. 12, 2004 DRAXIS Health, Inc. (Nasdaq:DRAX)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DAX), and the United Food and Commercial Workers The United Food and Commercial Workers International Union is a labor union representing approximately 1.4 million workers in the United States and Canada in many industries, including agriculture, health care, meatpacking, poultry and food processing, manufacturing, textile and International Union, Local 291P (AFL-CIO AFL-CIO: see American Federation of Labor and Congress of Industrial Organizations. AFL-CIO in full American Federation of Labor-Congress of Industrial Organizations U.S. ), have reached a tentative settlement to renew the collective agreement covering unionized hourly employees at DRAXIS Pharma, Inc. (DPI (Dots Per Inch) The measurement of the resolution of display and printing systems. A typical CRT screen provides 96 dpi, which provides 9,216 dots per square inch (96x96). Flat panel displays from 110 to 200 dpi have also been developed. ), the Company's pharmaceutical contract manufacturing business 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. . The new multi-year agreement will now be presented to union members and a ratification vote by the unionized DPI employees is expected to be completed by the end of January. The previous collective agreement between DPI and the union was negotiated in 1998 with a five year term to April 30, 2003. Negotiations with the union for renewal of the collective agreement were initiated in early 2003. At the end of December, 2003 DPI had approximately 160 unionized hourly employees. About DRAXIS Health, Inc. DRAXIS Health, Inc. (www.draxis.com), is a specialty pharmaceutical company involved in the development, production, marketing and distribution of therapeutic and diagnostic radiopharmaceuticals through DRAXIMAGE, Inc., and in the provision of pharmaceutical contract manufacturing services, specializing in liquid and freeze-dried injectables and other sterile products through DRAXIS Pharma, Inc. DRAXIS Health employs over 400 staff and reported sales in 2002 in excess of US$38 million. Except for historical information, this news release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 as amended, which involve risk and uncertainties that may cause actual results to differ materially from the statements made. Such factors include, but are not limited to, timely regulatory approval of the Company's products, the ability to obtain and enforce effective patents, the establishment and maintenance of new corporate alliances, compliance with appropriate governmental regulations, and other risks detailed from time-to-time in the Company's filings with the US Securities and Exchange Commission and Canadian securities authorities. The Company does not undertake to update such forward-looking statements to reflect new information, later events or developments. |
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