UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15-d-16 of
The Securities Exchange Act of 1934
For April 14, 2008
Commission File Number 000-17434
DRAXIS HEALTH INC.
(Translation of registrant’s name into English)
Suite 4700, TD Bank Tower
Toronto Dominion Centre
Toronto, Ontario M5K 1E6
CANADA
(Address of principal offices)
Registrant files annual reports under cover of Form 20-F
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| DRAXIS HEALTH INC. | ||
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| By:/s/ Alida Gualtieri | ||
| General Counsel & Secretary | ||
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Dated: April 14, 2008 |
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DRAXIS HEALTH INC.
FORM 51-102F3
MATERIAL CHANGE REPORT
1. Name and address of the Company
DRAXIS Health Inc.
6870 Goreway Drive, Suite 200
Mississauga, Ontario
L4V 1P1
2. Date of Material Change
April 4, 2008
3. News Release
A press release reporting the material change was issued by DRAXIS Health Inc. (“DRAXIS”) on April 4, 2008, a copy of which is attached.
4. Summary of Material Change
Jubilant Organosys Ltd. (“Jubilant”) and DRAXIS announced that they have entered into an arrangement agreement whereby a wholly-owned subsidiary of Jubilant will acquire all the outstanding common shares of DRAXIS at a price of US$6.00 per share in cash by way of a plan of arrangement. The total value of this transaction is approximately US$255 million.
The purchase price represents a 22.4% premium over the closing price of DRAXIS’s shares on NASDAQ on April 3, 2008 and a 41.2% premium over the closing price of DRAXIS’s common shares on NASDAQ on March 13, 2008, the last trading day on NASDAQ prior to the request by securities regulators to explain increased trading in DRAXIS’s common stock on March 14, 2008.
5. Full Description of Material Change
See press release attached.
6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
Not applicable.
7. Omitted Information
None.
8. Executive Officer
For further information, please contact Alida Gualtieri, General Counsel and Secretary at (514) 630-7060.
9. Date of report
April 14, 2008
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