Guerbet — M&A Activity 2009

Mar 11, 2009

P R E S S R E L E A S E

Guerbet signs an agreement with Draximage to distribute its portfolio of nuclear medicine products in Europe

Villepinte, 11 March 2009

Guerbet and Draximage, a division of the Canadian Group Draxis Specialty Pharmaceuticals Inc., a Jubilant Organosys Company, specialized in radiopharmaceuticals, have concluded an agreement for the distribution of Draximage's products portfolio in Europe.

Guerbet and Draximage signed an agreement on 10 March 2009 for a partnership in Europe in the nuclear medicine sector.

Guerbet will become the distributor for the sale of Draximage products (MDP, Sestamibi, DTPA, MAA and I-131) through its network of European subsidiaries.

Guerbet will also have a preferential right to distribute any new Draximage products to complete its offering in Europe.

With this agreement, Guerbet strengthens its offering by expanding into nuclear medicine, a technology for diagnostic imaging and therapeutic purposes that offers a highly complementarity fit with the x-ray and MRI lines.

This partnership enables Guerbet to provide a response to the needs of medical professions in the imaging market boosted by the rapid development of hybrid technologies (nuclear medicine and MRI, nuclear medicine and CT-scanners).

Nuclear medicine is a medical specialty that explores the functioning of organs through the use of radioactive agents for diagnostic purposes. It is particularly well adapted for the diagnosis of cancers and cardiovascular disorders.

This agreement will enable Draximage, recently acquired by Jubilant Organosys, to develop the geographical coverage of its products by partnering with a major European imaging specialist with key positions in the x-ray segment and the European leader for MRI with Dotarem®.

"This constitutes a first step for Guerbet in the field of nuclear medicine. Nuclear medicine is a high utility technology providing complementary capabilities for the diagnosis and staging of cancers. It also offers considerable benefits for monitoring cardiovascular and metabolic disorders. Given its experience in nuclear medicine, excellent reputation and pipeline, Draximage represents an ideal partner for Guerbet. This partnership will provide a promising growth driver for our continued development in the years ahead." commented Philippe Decazes, Chairman of the Executive Committee of Guerbet.

"For Draximage, Draxis' radiopharmaceutical division, this partnership provides an excellent opportunity for growth in Europe by partnering with a leading specialist in medical imaging. Guerbet's expertise, commercial energy and strong penetration in the x-ray and MRI segments will provide Draximage an opportunity to accelerate its development in these new European markets" declared Jean-Pierre Robert, CEO of Draxis Specialty Pharmaceuticals Inc.

Commenting on the development, Shyam S. Bhartia, Chairman & Managing Director and Hari S. Bhartia, Co-Chairman & Managing Director of Jubilant Organosys Ltd. said :"This is in line with our strategy to expand our specialty pharmaceuticals business in the regulated markets. The partnership with a strong player in Europe demonstrates our commitment to enter into the attractive, regulated, high growth and high margin radiopharmaceutical business, and will enable us to gain rapid market share."

About Guerbet

Guerbet (www.guerbet.com) is the only pharmaceutical group fully dedicated to medical imaging. It has the most comprehensive range of x-ray and MRI contrast media available worldwide. These products assist medical professionals (radiologists, cardiologists, oncologists, etc.) in better diagnosing and treating their patients (cardiovascular, cancer, inflammatory and degenerative diseases). To develop new products and assure its future growth, every year Guerbet devotes significant resources to research and development with 170 R&D employees representing an amount equivalent to approximately 10% of sales. Guerbet's research programmes are mainly focused on MRI and nuclear medicine.

Guerbet is solidly positioned in Europe with a market share of 25% and is expanding its presence in the United States and Japan.

Guerbet, listed on Eurolist Euronext Paris in compartment B had sales in 2008 of €321 million with a total workforce of 1,270 employees.

For more information: visit www.guerbet.com

Guerbet Contact: Anne-Laure Delasalle, Director of Communications, Guerbet Group Tel: +33 (0)1 45 91 50 03 E-Mail: anne-laure.delasalle@guerbet-group.com

About Jubilant

Jubilant Organosys Ltd. is an integrated pharmaceutical industry player, one of the largest custom research and manufacturing services (CRAMS) and drug discovery and development services companies out of India.

The company has a presence across the pharmaceutical value chain for products and services such as proprietary products ,exclusive synthesis, active pharmaceutical ingredients, contract manufacturing of sterile injectables (liquids and lyophilized) products, non-steriles (ointments, creams and liquid) and radiopharmaceuticals, drug discovery services, medicinal chemistry services, clinical research services, generic dosage forms and Healthcare.

Jubilant Organosys has geographically diversified manufacturing facilities at ten locations worldwide. Together, these help Jubilant cater to 150 customers across more than 50 countries around the world. For more information: visit www.jubl.com

About Draximage

DRAXIMAGE, a division of DRAXIS Specialty Pharmaceuticals Inc., develops, manufactures and markets diagnostic and therapeutic radiopharmaceuticals for the global nuclear medicine marketplace. Products includes a proprietary line of lyophilized Technetium-99m kits (MAA, MDP, DTPA and Sestamibi) used in several medical imaging procedures. DRAXIMAGE is also a leading supplier of I-131 radiopharmaceuticals in North America, used for the diagnosis and treatment of thyroid disorder and cancer. Products in development comprises "next generation" Rubidium-82 and Technetium-99m generators. DRAXIMAGE products are exported worldwide, with regulatory approval in USA, Canada, parts of Europe and South-East Asia.

For more information: visit www.draximage.com

Draximage Contact:

Francois Bergeron, General Manager of Draximage Tel: +514 630-7167 E-Mail: fbergeron@draximage.com