DRAXIS Names New President and Chief Executive Officer as well as New Chief Operating Officer
08 Gennaio 2008 - 2:10PM
PR Newswire (US)
MONTREAL, Jan. 8 /PRNewswire-FirstCall/ -- The Board of Directors
of DRAXIS Health Inc. (TSX: DAX) (NASDAQ:DRAX) has appointed Mr.
Dan Brazier as the new President and Chief Executive Officer
effective January 1, 2008. In addition, the Board has also
appointed Mr. Jean-Pierre Robert to the position of Chief Operating
Officer of DRAXIS Health Inc. Brian King, Chair of the Board of
Directors, said, "The Board of Directors has full confidence that
the streamlined executive management team under Dan Brazier's
leadership has the capabilities to deliver on its strategic plan
for the Company that positions DRAXIS for significant growth
beginning in 2008 and extending into the future. Recently announced
partnerships, new business activities and the continuing
development of several significant new products that are expected
to be introduced over the next several years represent significant
opportunities for value creation." Mr. Jean-Pierre Robert will also
continue to retain his position as President of DRAXIS Specialty
Pharmaceuticals Inc. (DSP), the Company's wholly-owned operating
subsidiary. These new appointments are the result of a long term
process established by the Company to identify a successor to Dr.
Martin Barkin who recently informed the Board of his decision to
retire as President and CEO and resign from the Board of Directors,
both effective December 31, 2007. About Dan Brazier Dan Brazier has
been a member of the executive management team since he joined
DRAXIS in 1998. He was named Chief Operating Officer in October
2005 and since July 2007 he served in the Office of the President
together with Dr. Barkin. Prior to his appointment as COO Mr.
Brazier was Senior Vice President, Corporate Development and
Strategic Planning since June 2003. Previously, he served as the
President of the Canadian pharmaceutical sales and marketing
division of DRAXIS Health, where he successfully transformed and
grew the division from a relatively small unit that marketed
several unrelated product lines into a profitable specialty
pharmaceuticals business with a well-defined focus in prescription
products for the neurology segment. Mr. Brazier has nearly 30 years
of business experience with several consumer marketing, healthcare
and pharmaceutical companies in a variety of increasingly
responsible roles that included responsibilities in Canada, the
United States and internationally. He has held a variety of senior
positions including sales and marketing management, general
management, strategic planning, corporate development and executive
management roles. Prior to joining DRAXIS Health he established a
specialty products division within a major international
pharmaceutical company and led that division through a period of
rapid growth. Mr. Brazier holds an honours degree in Commerce, with
a double major in both Marketing and Finance. About Jean-Pierre
Robert Jean-Pierre Robert joined DRAXIS in April 2005 as President
of the radiopharmaceuticals business unit in Montreal and as a
member of the executive management team. In July 2007 he assumed
the role of President of DRAXIS Specialty Pharmaceuticals Inc. In
that position he has responsibility for both DRAXIMAGE, the
division of DSP that produces and markets its own
radiopharmaceutical products and for DRAXIS Pharma, the contract
manufacturing division of DSP, which produces sterile and
non-sterile products for clients in the pharmaceutical and
biotechnology sectors. Before joining DRAXIS, Mr. Robert spent
several years with Tyco Healthcare (Canada), now Covidien Ltd.,
most recently as Vice President and General Manager, an executive
role where he oversaw domestic and export operations including
marketing, sales, finance, and contract manufacturing operations.
Immediately prior to joining DRAXIS Mr. Robert was President and
CEO of an emerging Canadian biopharmaceutical company. Mr. Robert
has 28 years experience in the pharmaceutical industry and holds a
B.Sc. degree. 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
http://www.draxis.com/ Caution Concerning Forward-Looking
Statements This news release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act") and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") and as
contemplated under other applicable securities legislation. These
statements can be identified by the use of forward-looking
terminology such as "may," "will," "expect," "anticipate,"
"estimate," "continue," "plan," "intend," "believe" or other
similar words. These statements discuss future expectations
concerning results of operations or financial condition or provide
other forward-looking information. Our actual results, performance
or achievements could be significantly different from the results
expressed in, or implied by, those forward-looking statements. You
should not place undue reliance on any forward-looking statement,
which speaks only as of the date made. These statements are not
guarantees of future performance. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks,
uncertainties and other factors that may cause the actual results
or performance of the Company to be materially different from such
statements or from any future results or performance implied
thereby. Factors that could cause the Company's results or
performance to differ materially from a conclusion, forecast or
projection in the forward-looking statements include, but are not
limited to: - the achievement of desired clinical trial results
related to the Company's pipeline products; - timely regulatory
approval of the Company's products; - the ability to comply with
regulatory requirements applicable to the manufacture and marketing
of the Company's products; - the Company's ability to obtain and
enforce effective patents; - the non-infringement of third party
patents or proprietary rights by the Company and its products; -
factors beyond our control that could cause interruptions in our
operations in our single manufacturing facility (including, without
limitation, material equipment breakdowns); - reimbursement
policies related to health care; - the establishment and
maintenance of strategic collaborative and commercial
relationships; - the Company's dependence on a small number of key
customers; - the disclosure of confidential information by our
collaborators, employees or consultants; - the preservation of
healthy working relationships with the Company's union and
employees; - the Company's ability to grow the business; - the
fluctuation of our financial results and exchange and interest rate
fluctuations; - the adaptation to changing technologies; - the loss
of key personnel; - the avoidance of product liability claims; -
the loss incurred if current lawsuits against us succeed; - the
volatility of the price of our common shares; - market acceptance
of the Company's products; - factors described under "Outlook" in
the Company's MD&A for the most recent quarter; and - the risks
described in "Item 3. Key Information - Risk Factors" in the Annual
Report Form 20-F filed by the Company with the United States
Securities and Exchange Commission and which is also filed as the
Company's Annual Information Form with Canadian securities
regulators. 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 http://www.sec.gov/) and the filings made by the Company
with Canadian securities regulators (available on SEDAR at
http://www.sedar.com/). The forward-looking statements contained in
this document represent the Company's expectations as at January 7,
2008. 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. DATASOURCE: DRAXIS Health
Inc. CONTACT: DRAXIS Health Inc.: Jerry Ormiston, Executive
Director, Investor Relations, Phone: 1-877-441-1984
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