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The Special Committee of Independent Directors of Patheon Inc. ("Patheon") recently announced that it believes fewer than 30,000, or approximately 0.03%, of the Company's Restricted Voting Shares were tendered during the latest extension to the hostile insider offer ("the Offer") by JLL Patheon Holdings LLC ("JLL").

Since May 20, 2009 JLL has taken up fewer than 100,000 additional Patheon Restricted Voting Shares.

JLL continues to offer US$2.00 per Restricted Voting Share, a price that is well below the range of an independent valuation of the Company and which both the Special Committee and the Board of Directors have recommended shareholders should reject.

"It is not in the Company's interests or in the interests of other shareholders for JLL to continue with this inadequate and unfair offer," said Paul Currie, Chairman of the Special Committee. "Patheon's shares continue to trade well above the JLL Offer and fewer shares are tendered to each extension of the Offer. It is obvious that shareholders do not want the Offer and that the Company should be allowed to focus entirely on its business."

The JLL offer was first announced in December 2008 and has now been extended for the fourth time to expire at the end of June. While JLL continues to extend the expiry of the Offer it has refused to alter the Offer to provide fair value to Patheon shareholders although it is clear that holders of a majority of the Company's Restricted Voting Shares oppose the offer and will not tender.

JLL's actions are consistent with tactics the Special Committee has described as coercive and not in the best interests of Patheon shareholders.

Even with the continuing distraction of the JLL Offer, Patheon continues to make progress on its strategic plan and in delivering improved performance for shareholders, as demonstrated by its financial results for the second quarter announced on June 12, 2009. These improved financial results, as well as the announcement of new business initiatives and capabilities, were achieved during a period of challenging economic and business conditions worldwide.

The Special Committee continues to believe, based on all information provided to it to date, that an independent Patheon, successfully implementing on its strategy, remains the best available alternative for shareholders. Patheon shareholders can help maintain the independence of their company simply by not tendering their shares to the JLL bid.

About Patheon
Patheon Inc. 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. For more information visit www.patheon.com

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.