Patheon Completes Plan of Arrangement

                    Patheon Completes Plan of Arrangement

PR Newswire

TORONTO, March 11, 2014

TORONTO, March 11, 2014 /PRNewswire/ - Patheon Inc. (TSX: PTI) ("Patheon")
announced today the completion of the previously announced statutory plan of
arrangement (the "Arrangement") under section 192 of the Canada Business
Corporations Act, pursuant to the arrangement agreement between Patheon and
JLL/Delta Patheon Holdings, L.P. ("DPx") dated November 18, 2013. DPx is
sponsored by an entity controlled by an affiliate of JLL Partners, Inc.
("JLL") and Koninklijke DSM N.V. ("DSM").

Pursuant to the  Arrangement, DPx indirectly  acquired all of  the issued  and 
outstanding restricted voting shares of Patheon at a price of US$9.32 cash for
each share. All of the outstanding options of Patheon were deemed to be vested
and holders are entitled to receive a cash amount equal to the amount by which
US$9.32 exceeds  the  exercise price  of  such  option. All  options  with  an 
exercise price  equal  to  or  greater than  US$9.32  were  cancelled  without 
consideration. All payments are subject  to applicable withtholding taxes,  if 

For registered holders of Patheon's  restricted voting shares, payment of  the 
consideration will be processed after holders deposit their share certificates
with Computershare Trust Company of  Canada (the "Depositary"), in  accordance 
with the  instructions  in  the  Letter  of  Transmittal  previously  sent  to 
registered shareholders. Any questions regarding payment of the consideration,
including any request  for another form  of Letter of  Transmittal, should  be 
directed to the  Depositary via telephone  at 1 (800)  564-6253 (toll free  in 
North   America)   or   via   email   at 
Non-registered shareholders will receive payment of the consideration  through 
their broker, investment  dealer, bank,  trust company  or other  intermediary 
that holds  the  restricted  voting shares  on  their  behalf.  Non-registered 
shareholders should contact  their broker  or other  intermediary for  further 

Patheon has  withdrawn its  shares from  registration with  the United  States 
Securities and Exchange Commission. Delisting of the restricted voting  shares 
from the  Toronto Stock  Exchange is  expected to  occur shortly.  As soon  as 
practicable after the delisting of its restricted voting shares, Patheon  will 
apply to all applicable Canadian securities regulatory authorities to cease to
be a reporting issuer.

Pursuant to the  Arrangement, Patheon  was amalgamated  with JLL/Delta  Canada 
Inc., an indirect subsidiary  of DPx, and will  continue to carry on  business 
under the name "Patheon Inc."

In connection with the completion of the Arrangement, DSM's DSM Pharmaceutical
Products ("DPP") business group was combined with Patheon.

Further details with  respect to  the Arrangement  can be  found in  Patheon's 
proxy statement and management information circular dated February 4, 2014.

About Patheon Inc.

Patheon  a leading  provider of  contract development  and  commercial 
manufacturing services to the global pharmaceutical industry for a full  array 
of solid and sterile  dosage forms. Through  the company's recent  acquisition 
ofBanner Pharmacaps-  a market  leader in  soft gelatin  capsule  technology 
-Patheonnow also includes a proprietary products and technology business.

Patheonprovides the highest  quality products and  services to  approximately 
300 of the  world's leading  pharmaceutical and  biotechnology companies.  The 
company's integrated network consists of 15 locations, including 12 commercial
contract manufacturing  facilities  and  9  development  centers  acrossNorth 
AmericaandEurope.Patheonenables customer  products  to  be  launched  with 
confidence anywhere in the world. For more information

This press  release  is  issued  in  compliance  with  section  102.1  of  the 
Securities Act  (Ontario) and  National Instrument  62-103 The  Early  Warning 
System and Related Take-Over  Bid and Insider  Reporting Issues in  connection 
with the  acquisition  by JLL/Delta  Canada  Inc., an  indirect  wholly  owned 
subsidiary of DPx, of all of the restricted voting shares of Patheon  pursuant 
to the Arrangement. A press release and early warning report in respect of the
acquisition of all of the restricted voting shares of Patheon pursuant to  the 
Arrangement will  be  filed  with  the  applicable  securities  commission  or 
securities regulator in each jurisdiction in which the Patheon is a  reporting 

                            JLL/Delta Canada Inc.
                              2100 Syntex Court
                         Mississauga, Ontario, Canada
                                   L5N 7K9

To obtain a copy of the  early warning report, please contact Daniel  Agroskin 
at 212-286-8600.

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.

SOURCE Patheon Inc.


Patheon Inc.
Tel: (919) 226-3200
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