Draxis Health confirms rumors of a potential sell-off

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Montreal-based Draxis considers selling the company. Source: Indie Scribe  

Draxis Health reported it is currently in exclusive discussions regarding a potential transaction that could lead to a sale of the company, which was revealed in response to a request by securities regulators with respect to increased trading in its common stock.

The company said that there can be no certainty at this stage that the discussions will continue or result in any agreement or transaction, or result in pricing that will be acceptable either to the board of directors of the company or to shareholders.

Draxis Health, through its wholly owned operating subsidiary, Draxis Specialty Pharmaceuticals, provides products in three categories: sterileproducts, non-sterile products and radiopharmaceuticals. Draxis employs approximately 500 staff in its Montreal facility.