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                                                                     Exhibit 4.8

SHARE PURCHASE AGREEMENT entered into as of July 16, 2003.

BETWEEN :            MOHAMMED BARKAT, businessman, residing at 146 MacDonald,
                     Kirkland, Quebec, H9J 3Z3

                     (the "VENDOR")

AND :                DRAXIS PHARMA INC., a corporation duly incorporated under
                     the laws of Canada, having its principal place of business
                     at 16751 TransCanada Highway, Kirkland, Quebec, H9H 4J4,
                     acting and represented by John Durham, its President, duly
                     authorized as he so declares

                     (the "PURCHASER")

     WHEREAS Vendor is the owner of 101,425 common shares (the "PURCHASED
SHARES") in the share capital of the Purchaser;

     AND WHEREAS the Vendor desires to transfer to the Purchaser, and the
Purchaser desires to purchase from the Vendor for cancellation, all of Vendor's
right, title and interest in the Purchased Shares, subject to the terms and
conditions set forth herein;

NOW THEREFORE, the parties hereto hereby covenant and agree as follows:

1.   PREAMBLE

     The preamble is an integral part of this Agreement.

2.   PURCHASE AND SALE

2.1  The Vendor hereby transfers, assigns, grants and conveys to the Purchaser,
     and the Purchaser hereby purchases from the Vendor, all of Vendor's right,
     title and interest in the Purchased Shares.

2.2  The purchase price for the Vendor's right, title and interest in the
     Purchased Shares (the "PURCHASE PRICE") shall be $152,137.50.

2.3  The Vendor hereby acknowledges that the Purchaser loaned it an amount of
     $88,376.80 to subscribe to the Purchased Shares (the "LOAN").

2.4  The Vendor acknowledges that as of this date the outstanding amount of the
     Loan is $83,376.00 and that he hereby agrees that said amount will be
     deducted by the Purchaser from the Purchase Price in full and complete
     payment of the Loan. Accordingly, the Vendor hereby instructs the Purchaser
     to pay to the Vendor the net amount of $68,761.50.

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2.5  The Purchaser acknowledges that the pledges of the Purchased Shares are
     released as a consequence of the payment provided in Section 2.4.

3.   REPRESENTATIONS AND WARRANTIES

3.1  The Vendor represents and warrants to the Purchaser:

     3.1.1   The Vendor owns the Purchased Shares by good and valid title, free
             and clear of any hypothec, priority, surety, charge, assignment,
             option, claim or other third party right, save and except for the
             pledges in favour of the Purchaser; and

     3.1.2   The Vendor is not a non-resident person within the meaning of
             section 116 of the INCOME TAX ACT (Canada).

3.2  The Purchaser represents and warrants to the Vendor:

     3.2.1   The Purchaser is not a non-resident person within the meaning of
             section 116 of the INCOME TAX ACT (Canada), and

     3.2.2   The Purchaser has all necessary power and authority to acquire the
             Purchased Shares from the Vendor according to the terms of this
             Agreement, without any other restriction or condition.

3.3  Except as expressly provided in this Section 3, the Purchased Shares are
     transferred without any other representation or warranty whatsoever.

4.   GENERAL

4.1  Any notice or other communication required or permitted to be given herein
     to any party shall be in writing and shall be given by facsimile or other
     means of electronic communication or by hand-delivery as hereinafter
     provided if followed by a copy sent via messenger. Any such notice or other
     communication, if sent by facsimile or other means of electronic
     communication, shall be deemed to have been received on the business day
     following the sending, or if delivered by hand, shall be deemed to have
     been received at the time it is delivered to the applicable address noted
     below either to the individual designated below or to an individual at such
     address having apparent authority to accept deliveries on behalf of the
     addressee. Notice of change of address shall also be governed by this
     section. Notice and other communications shall be addressed as follows :

     4.1.1   if to the Vendor :

             Mohammed Barkat
             146 MacDonald
             Kirkland, Quebec
             H9J 3Z3

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     4.1.2   if to the Purchaser :

             16751 TransCanada Highway
             Kirkland, Quebec
             H9H 4J4
             Facsimile: (514) 905-5494

             Attention: The President

     A party may at any time change its address for service from time to time by
     giving notice to the other party in accordance with this Sub-section 4.1.

4.2  This Agreement shall be governed by and construed in accordance with the
     laws of the Province of Quebec and the laws of Canada applicable therein.

4.3  The division of this Agreement into sections and subsections are for
     convenience of reference only and shall not affect the interpretation or
     construction of this Agreement.

4.4  The Purchaser and the Vendor shall from time to time execute and deliver
     all such further documents and instruments and do all acts and things as
     the other party may reasonably require to effectively carry out or better
     evidence or perfect the full intent and meaning of this Agreement.

4.5  This Agreement constitutes the entire Agreement between the parties with
     respect to all of the matters herein.

4.6  This Agreement shall enure to the benefit of and be binding upon the
     parties hereto and their respective successors, assigns and legal
     representatives.

4.7  The parties hereto have expressly required that this Agreement and all
     documents related thereto be drafted in English. Les parties aux presentes
     on expressement exige que la present entent et les documents s'y rapportant
     soient rediges en anglais.

IN WITNESS WHEREOF the parties hereto have duly executed this Agreement as of
the date first hereinabove written.


                                               DRAXIS PHARMA INC.


/s/ Mohammed Barkat                            Per:   /s/ John Durham
-----------------------------------                   --------------------------
MOHAMMED BARKAT                                       President