Patheon Board Of Directors Confirms Recommendation That Shareholders Reject Inadequate JLL Offer

Patheon Inc. (“Patheon”) (TSX:PTI), today announced that the Board of Directors has reaffirmed its recommendation that shareholders reject the unsolicited offer by JLL Patheon Holdings LLC (“JLL”) to acquire, at a price of US$2.00 each, any and all of the issued and outstanding restricted voting shares of Patheon not owned by JLL or its affiliates and associates. Each of JLL's three nominees on the Board declared his conflict of interest and refrained from voting. Directors Joaquín B. Viso and Wesley P. Wheeler, the Company's Chief Executive Officer, abstained.

The Board is mailing to Shareholders today a Notice of Change to the Directors’ Circular dated March 25, 2009. The Notice of Change contains further details regarding the Ontario Securities Commission proceedings that led to the termination of JLL's side deal with a group of shareholders led by Mr. Viso, as well as information regarding the Board's reaffirmation of its recommendation.

ABOUT PATHEON
Patheon Inc. (TSX:PTI; www.patheon.com) is a leading global provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon prides itself in providing the highest quality products and services to more than 300 of the world’s leading pharmaceutical and biotechnology companies. Patheon’s services range from preclinical development through commercial manufacturing of a full array of dosage forms including parenteral, solid, semi-solid and liquid forms. Patheon uses many innovative technologies including single-use disposables, Liquid-Filled Hard Capsules and a variety of modified release technologies. Patheon’s comprehensive range of fully integrated Pharmaceutical Development Services includes pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization. Patheon can take customers direct to clinic with global clinical packaging and distribution services and Patheon’s Quick to Clinic™ programs can accelerate early phase development project to clinical trials while minimizing the consumption of valuable API.

Patheon’s integrated development and manufacturing network of 11 facilities, and 6 development centers across North America and Europe, strives to ensure that customer products can be launched with confidence anywhere in the world.

SOURCE: Patheon Inc.