Patheon Issues Statement in Response to Recent Trading Activity

Toronto, Canada (November 16, 2006) — Patheon Inc. (TSX: PTI) today issued the following statement in response to recent trading activity. As previously announced on September 11, 2006, the Board of Patheon has established a special committee and engaged financial advisors to evaluate strategic and financial alternatives for the company. The company is in discussions with a number of parties with regard to various alternatives. There can be no assurance that a transaction or other material development will result from this process. No further announcements will be made by the company unless and until circumstances so warrant.

Patheon (TSX:PTI; www.patheon.com) is a leading global provider of drug development and manufacturing services to the international pharmaceutical industry. Patheon operates a network of 14 facilities in the United States, Canada and Europe, employing more than 5,900 people and serving a client base of more than 200 pharmaceutical and biotechnology companies.

Contacts: Mr. Riccardo Trecroce, Chief Executive Officer, Tel: (905) 812-6877, Fax: (905) 812-6613, Email: rtrecroce@patheon.com; Mr. John Bell, Chief Financial Officer, Tel: (905) 812-6812, Fax: (905) 812-6613, Email: john.h.bell@patheon.com; Ms. Shelley Jourard, Director, Corporate Communications, Tel: (905) 812-6614, Fax: (905) 812-6613; Email: sjourard@patheon.com.

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