Exhibit (c)(6)

November 17, 2013 / Confidential Project Jupiter Fairness Opinion Materials Jefferies LLC Member SIPC

Disclaimer The following pages contain material provided to JLL Associates VI, L.P. (“JLL Associates”) as a general partner of JLL Partners Fund VI, L.P., by Jefferies LLC (“Jefferies”) in connection with a proposed transaction involving Patheon, Inc. (“Patheon” or the “Company”). These materials were prepared on a confidential basis and not with a view toward complying with the disclosure standards under state or federal securities laws. These materials are for use of JLL Associates and may not be used for any other purpose without Jefferies’ written consent. The information contained in this presentation was based solely on publicly available information or information furnished to Jefferies. Jefferies has relied, without independent investigation or verification, on the accuracy, completeness and fair presentation of all such information and the conclusions contained herein are conditioned upon such information (whether written or oral) being accurate, complete and fairly presented in all respects, and Jefferies makes no representation or warranty in respect of the accuracy, completeness or fair presentation of such information. Jefferies does not provide accounting, tax, legal, or regulatory advice. In addition, Jefferies and JLL Associates mutually agree that, subject to applicable law, JLL Associates (and its employees, representatives and other agents) may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, and all materials of any kind (including tax opinions and other tax analyses) related thereto, without Jefferies imposing any limitation of any kind. Important Disclosures i

Table of Contents Transaction Overview 1 Patheon Overview 2 Financial Analysis 3 Appendix 4 Tab ii

Transaction Overview 1

Transaction Structure Koninklijke DSM N.V. (“DSM”) and Sponsor form NewCo LP for the purpose of acquiring Patheon and absorbing DSM asset contribution nSponsor provides equity capital to NewCo LP nNewCo LP borrows funds at operating company level nDSM contributes DSM Assets to NewCo LP NewCo LP acquires (1) the 44% of the shares of Patheon directly from Patheon shareholders by way of a Plan of Arrangement in a cash transaction and (2) 56% of the shares of Patheon by acquiring JLL Partners Fund V (Patheon) L.P. in a cash transaction nJLL Associates has indicated that Fund V has no assets or liabilities other than the direct or indirect ownership of shares of Patheon nDSM receives (1) 49% ownership of NewCo LP equity and (2) Paid-in-kind seller note issued by a wholly-owned subsidiary of NewCo LP nJLL Partners Fund VI L.P. and others receive 51% ownership of NewCo LP equity 1 2 3 Transaction Structure Public Shareholders (44%) Patheon 3 Debt Investors DSM DSM Assets 1 3 1 1 2.1 2 JLL Partners Fund VI L.P., limited partners of JLL funds, and others (“Sponsor”) Seller Note + 49% Equity Ownership Contributes Select Assets 51% Equity Ownership Cash Cash NewCo LP (DSM Assets + Patheon) JLL Partners Fund V (56%) Source: JLL Partners, Inc. (“JLL Partners”), an affiliate of JLL Associates. 2.2 Cash Cash 2

Summary of Selected Transaction Terms

Structure nAcquisition of Patheon by way of a Plan of Arrangement and an acquisition of JLL Partners Fund V (Patheon) L.P. interests

Price per Share n$9.32 USD nPer share price is fixed at $9.32 USD to be received by shareholders Consideration n100% cash Implied Equity Value n$1,391.5 million (USD) (1) Implied Enterprise Value n$1,967.7 million (USD) (2) Financing n$1,650.0 million committed financing -$1,150.0 million 1st Lien Term Loan -$500.0 million Senior Unsecured Notes Expected Closing nQ1 2014 Other Considerations nBreak up fee to be negotiated nOther customary closing conditions, including anti trust approvals

Sources: Arrangement Agreement provided on November 14, 2013, Patheon public filings, Capital IQ as of November 15, 2013, and materials prepared by Patheon management and furnished by management of JLL Partners. (1)Fully-diluted shares calculated using the treasury stock method based on 140.9 million common shares, 11.1 million stock options at a weighted average exercise price of $2.65 USD and 0.447 million director stock units per JLL Partners. (2)Assumes $623.7 million in debt and $47.5 million in cash per materials prepared by Patheon management and furnished by management of JLL Partners. Acquisition of Patheon 3

Transaction Overview Sources: Patheon SEC filings, Capital IQ as of November 15, 2013, and materials prepared by Patheon management and furnished by management of JLL Partners. (1)Reflects trading days. VWAP defined as volume weighted average price. (2)Based on closing stock prices. (3)Fully-diluted shares calculated using the treasury stock method based on 140.9 million common shares, 11.1 million stock options at a weighted average exercise price of $2.65 USD and 0.447 million director stock units per materials prepared by Patheon management and furnished by management of JLL Partners. (4)Assumes a CAD to USD exchange rate of 0.956 as of November 15, 2013 per Capital IQ. (5)Multiples per financials prepared by Patheon management and furnished by JLL Partners. (6)Adjustments are prepared by Patheon management and furnished by JLL Partners. Current Patheon Market Data (CAD, unless otherwise noted)Transaction Metrics (CAD, unless otherwise noted)Offer Price per Share9.75$ Offer Price Premium to:Current Closing Stock Price (11/15/2013)5.95$ Current Closing Stock Price (11/15/2013)63.9%30-Day VWAP (1)5.78 30-Day VWAP (1)68.6%60-Day VWAP (1)6.22 60-Day VWAP (1)56.9%90-Day VWAP (1)6.12 90-Day VWAP (1)59.2%1 Year VWAP (1)4.53 1 Year VWAP (1)115.4%52-Week High (08/23/13) (2)6.79 52-Week High (08/23/13) (2)43.6%52-Week Low (02/21/13) (2)3.15 52-Week Low (02/21/13) (2)209.5%Fully Diluted Shares Outstanding (mm) (3)147.3 Fully Diluted Shares Outstanding (mm) (3)149.3 Implied Equity Value (CAD)876.5$ Implied Equity Value (CAD)1,455.6$ CAD-USD Exchange Rate 0.956 CAD-USD Exchange Rate 0.956 Implied Equity Value (USD) (4)837.9$ Implied Equity Value (USD) (4)1,391.5$ Less: Cash and Cash Equivalents (mm)(47.5) Less: Cash and Cash Equivalents (mm)(47.5) Plus: Total Debt (mm)623.7 Plus: Total Debt (mm)623.7 Implied Enterprise Value (USD)1,414.1$ Implied Enterprise Value (USD)1,967.7$ CurrentImplied MedianMedianMarketTransactionComparableComparableCurrent Patheon Multiples (5)StatisticMultiplesImplied Transaction Multiples (5)MultiplesMultiplesTransactionsTEV / CY2013E Revenue$1,069.51.3xTEV / CY2013E Revenue1.8x1.9x2.1xTEV / CY2014E Revenue1,156.11.2xTEV / CY2014E Revenue1.7x1.8xna TEV / CY2013E Adjusted EBITDA158.78.9xTEV / CY2013E Adjusted EBITDA12.4xTEV / CY2013E Adjusted Pro Forma EBITDA (6)181.77.8xTEV / CY2013E Adjusted Pro Forma EBITDA (6)10.8x11.1x11.3xTEV / CY2014E Adjusted EBITDA208.36.8xTEV / CY2014E Adjusted EBITDA9.4x10.2xna 4

Patheon Overview 5

Business Segments Patheon — Company Overview Overview nMarket leading CDMO with global footprint in growing industry of pharmaceutical outsourcing nOperates in three distinct, synergistic segments ?Commercial Manufacturing Outsourcing (“CMO”) ?Pharmaceutical Development Services (“PDS”) ?Banner Life Sciences (“BLS”) nCore dosage form expertise in solids and steriles nOver 5,500 employees across 14 facilities nListed on the Toronto Stock Exchange (TSX:PTI) nJLL owns 56% of shares (JLL Partners Fund V (Patheon), L.P.) CDMO Value Chain Patheon’s Global Network Durham, NC High Point, NC Mexico City, Mexico Cincinnati, OH Toronto, Canada Whitby, Canada Manati, Puerto Rico Bourgoin, France Swindon, England Milton Park, England Tilburg, Netherlands Ferentino, Italy Monza, Italy Tokyo, Japan Commercial Manufacturing Revenue $653M (1) Pharmaceutical Development Services Revenue $147M (1) Banner Life Sciences Revenue $255M (1) Patheon is #1 provider of PDS Services including pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization Banner Life Sciences is a leading provider of soft gel technologies across prescription (Rx/Gx), OTC, and nutritional products Patheon’s CMO capabilities cover primarily prescription (Rx) products in solid, soft gel and sterile dosage forms, as well as specialized capabilities in high potency, controlled/sustained release, and sterile manufacturing, including aseptic filling and lyophilization CMO PDS API Discovery Drug Product Discovery Chem/Bio ADME/Tox API Proc Dev API CTM Mnalytical Method Solid State Chem. Pre-formulation Analytical Method Dose CTM Comm Mgt Solid Comm Mfg Parenteral Comm Mgt Other API Route Scouting Dose Formulation Patheon Drug Substance Clinical Commercial Sources: Patheon SEC filings and materials prepared by Patheon management and furnished by management of JLL Partners. (1)Represents FY2013E revenue. 6

Patheon — Historical Stock Price Performance Last 12 Months—200 400 600 800 1,000 $- $2.00 $4.00 $6.00 $8.00 $10.0011/15/1212/30/1202/14/1303/31/1305/16/1307/01/1308/15/1309/30/1311/15/13VolumePriceStock Price (CAD) Volume (000)

Trading Summary Date Stock Price (CAD) Closing Stock Price 11/15/13 $5.95 52-Week High 08/23/13 6.79 52-Week Low 02/21/13 3.15 30-Day VWAP (1) 5.78 60-Day VWAP (1) 6.22 90-Day VWAP (1) 6.12 1 Year VWAP (1) 4.53

Source: Capital IQ as of November 15, 2013. (1)Based on trading days. VWAP defined as volume weighted average price. 7

Patheon — Volume Traded Overview Last 12 Months (1) Stock Price Statistics (CAD) 11/15/2013 $5.95 52-Week High (1) 6.79 52-Week Low (1) 3.15 30-Day VWAP (2)(3) 5.78 60-Day VWAP (2)(3) 6.22 90-Day VWAP (2)(3) 6.12 1-Year VWAP (2)(3) 4.53

Total Shares Traded (000) 14,280

Source: Capital IQ as of November 15, 2013. (1)Based on closing stock prices. (2)Based on trading days. (3)VWAP defined as volume weighted average price. Trading History 6,913 2,341 3,195 1,831 48.4% 64.8% 87.2% 100.0% – 25%50%75%100%– 3,0006,0009,00012,00015,000$3.00—$3.99$4.00—$4.99$5.00—$5.99$6.00—$6.99Cumulative Volume (%) Shares Traded (000) Volume (000)% Cumulative 8

Shareholder Ownership Patheon — Shareholder Profile Shareholder Summary Institutions 11% Other Insiders 10% Retail 23% Source: Thomson Financial. Account holdings are based on 13F filings (as of 06/30/13). Insider holdings based on Proxy and Form 4 filings. Institutional OwnershipHoldings%Account(shares)OutstandingCityCI Investments Inc.8,165,2655.8%TorontoTD Asset Management Inc.2,004,4821.4%TorontoAltrinsic Global Advisors, LLC1,737,1391.2%GreenwichHesperian Capital Management Ltd.1,680,0001.2%CalgaryFiera Capital Corporation1,344,1961.0%MontrealCypress Capital Management Ltd.300,0000.2%VancouverFulcra Asset Management Inc.90,001< 0.1%VancouverDimensional Fund Advisors, LP89,785< 0.1%AustinConnor, Clark & Lunn Investment Management Ltd.77,200< 0.1%VancouverAXA Rosenberg Investment Management Ltd.27,600< 0.1%LondonTotal Institutions:15,515,66810.8%Insider OwnershipHoldings%Insider(shares)OutstandingJLL Partners Fund V (Patheon) L.P.78,524,98655.7%Joaquín Bautista Viso 11,689,6988.3%James C. Mullen 2,312,0851.6%Michael E. Lytton 379,0300.3%Brian G. Shaw 110,939< 0.1%Derek J. Watchorn 51,438< 0.1%David E. Sutin 36,454< 0.1%Mark J. Kontny 25,000< 0.1%Total Insiders:93,129,63065.9%JLL Partners Fund V (Patheon) L.P. 56% 9

Shareholder Ownership Patheon — Shareholder Profile Shareholder Summary Institutions 11% Other Insiders 10% Retail 23% Source: Thomson Financial. Account holdings are based on 13F filings (as of 06/30/13). Insider holdings based on Proxy and Form 4 filings. Institutional OwnershipHoldings%Account(shares)OutstandingCityCI Investments Inc.8,165,2655.8%TorontoTD Asset Management Inc.2,004,4821.4%TorontoAltrinsic Global Advisors, LLC1,737,1391.2%GreenwichHesperian Capital Management Ltd.1,680,0001.2%CalgaryFiera Capital Corporation1,344,1961.0%MontrealCypress Capital Management Ltd.300,0000.2%VancouverFulcra Asset Management Inc.90,001< 0.1%VancouverDimensional Fund Advisors, LP89,785< 0.1%AustinConnor, Clark & Lunn Investment Management Ltd.77,200< 0.1%VancouverAXA Rosenberg Investment Management Ltd.27,600< 0.1%LondonTotal Institutions:15,515,66810.8%Insider OwnershipHoldings%Insider(shares)OutstandingJLL Partners Fund V (Patheon) L.P.78,524,98655.7%Joaquín Bautista Viso 11,689,6988.3%James C. Mullen 2,312,0851.6%Michael E. Lytton 379,0300.3%Brian G. Shaw 110,939< 0.1%Derek J. Watchorn 51,438< 0.1%David E. Sutin 36,454< 0.1%Mark J. Kontny 25,000< 0.1%Total Insiders:93,129,63065.9%JLL Partners Fund V (Patheon) L.P. 56% 9

Financial Analysis 11

Financial Analysis Summary Jefferies utilized the methodologies outlined below in its financial analysis of Patheon Selected Public Companies Analysis nA method of valuing an entity relative to publicly traded companies with similar products or services, similar operating or financial characteristics, and/or similar customers or markets ?Jefferies reviewed 10 companies in the Contract Manufacturing Organization (“CMO”) and Contract Research Organization (“CRO”) sectors with similar growth profiles to that of Patheon Premiums Paid nJefferies reviewed 41 selected U.S. and Canadian public transactions announced from January 1, 2009 through November 15, 2013 involving healthcare companies with transaction values of between $500 million and $3 billion Jefferies did not attribute any particular weight to any analysis, methodology, or factor considered by it, but rather made qualitative judgments as to the significance and relevance of each analysis and factor. Accordingly, Jefferies’ analyses must be considered as a whole. Considering any portion of the analyses or the factors considered, without considering all analyses and factors, could create a misleading or incomplete view of the process underlying the conclusions expressed herein. nFor informational purposes, Jefferies also reviewed premiums paid in selected M&A transactions involving publicly traded U.S. target companies Selected Precedent M&A Transactions Analysis nA valuation methodology based on a review of recent merger and acquisition (“M&A”) transactions involving companies having similar products or services, similar operating or financial characteristics, or similar customers or markets ?Jefferies reviewed 12 selected precedent transactions in the CMO and CRO sectors announced since the beginning of 2010 Discounted Cash Flow Analysis nA valuation methodology based on an entity’s or a business’s risk-adjusted cash flow generating abilities ?Terminal value calculated using an EBITDA multiple of 8.0x – 10.0x ?A range of discount rates between 9.2% – 10.2% were applied to Patheon’s projected cash flows 12

Financial Projections — Fiscal Year Key Assumptions nFinancial Projections prepared by Patheon management and furnished by management of JLL Partners Source: Financials Projections per Patheon management and furnished by JLL Partners. (1)Includes adjustments to SG&A related to consulting fees, stock-based compensation, special committee costs, executive severance costs and SEC registration costs as prepared by Patheon management and furnished by management of JLL Partners. (2)Adjustments prepared by Patheon management and furnished by JLL Partners. Historical FYE October 31,Projected FYE October 31,CAGR (%)($USDmm)2011A2012A2013E2014E2015E2016E2017E’12—‘17Commercial Manufacturing$572.6$613.1$652.9$705.1$747.4$792.3$839.8Pharmaceutical Development Services 127.4 138.4 147.0 161.6 171.3 181.6 192.5 Banner Life Sciences— 254.8 277.0 299.2 321.6 344.1 Revenue$700.0$751.6$1,054.7$1,143.8$1,217.9$1,295.5$1,376.412.9%% Growth4.3%7.4%40.3%8.4%6.5%6.4%6.2%Cost of Goods Sold518.5 552.4 742.0 768.7 811.6 856.2 902.4 Gross Profit181.6 199.2 312.6 375.1 406.3 439.3 474.0 18.9%% Margin25.9%26.5%29.6%32.8%33.4%33.9%34.4%Operating Expenses164.3 166.7 218.8 222.8 231.3 240.1 249.1 Operating Income$17.3$32.5$93.9$152.3$175.0$199.2$224.947.2%% Margin2.5%4.3%8.9%13.3%14.4%15.4%16.3%Adjusted EBIT (1)$32.1$49.8$99.4$152.3$175.0$199.2$224.935.2%Depreciation and Amortization53.2 40.8 50.2 51.6 54.9 58.3 61.9 Adjusted EBITDA$85.3$90.6$149.6$203.9$229.9$257.5$286.825.9%% Growth(1.0%)6.2%65.2%36.3%12.7%12.0%11.4%% Margin12.2%12.1%14.2%17.8%18.9%19.9%20.8%Total Adjustments (2)27.6 Adjusted Pro Forma EBITDA— $177.3— — % Margin16.8% 13

$6.81 $9.37 $8.04 $8.52 $8.02 $7.74 $9.98 $12.44 $10.37 $11.98 $10.82 $10.12 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00Financial Analysis Summary Selected Public Companies Analysis (1)(2) Implied Patheon Equity Value per Share ($USD) Methodology Components Sources: Public filings, projections prepared by Patheon management and furnished by JLL Partners, Wall Street research, ThomsonOne Banker, and Capital IQ as of November 15, 2013. (1)Assumes $623.7 million in debt and $47.5 million in cash as prepared by Patheon management and furnished by JLL Partners. (2)Implied full-diluted price per share calculated using the treasury stock method based on 140.9 million common shares, 11.1 million stock options at a weighted average exercise price of $2.65 USD and 0.447 million director stock units as prepared by Patheon management and furnished by management of JLL Partners. Bottom end of range for each component as per fully diluted share count assuming low end of total implied value, and top end of range for each component as per fully diluted share count assuming high end of total implied value. (3)Adjustments prepared by Patheon management and furnished by JLL Partners. (4)Includes adjustments to SG&A related to consulting fees, stock-based compensation, special committee costs, executive severance costs and SEC registration costs as prepared by Patheon management and furnished by JLL Partners. (5)Based on selected transactions announced from January 1, 2009 to November 15, 2013 involving U.S. and Canadian-based, publicly traded healthcare target companies with transaction values of between $500 million and $3 billion. n1.75x – 2.25x FY2013E Revenue of $1,054.7 million Offer Price: $9.32 USD Enterprise Value / CY2013E Pro Forma Adjusted EBITDA (3)(4) n9.5x – 11.5x CY2013E Adjusted Pro Forma EBITDA of $181.7 million (3)(4) Enterprise Value / CY2014E Adjusted EBITDA (4) n8.5x – 10.5x CY2014E Adjusted EBITDA of $208.3 million (4) Premiums Paid (5) n25th to 75th Percentiles of Premiums Paid Analysis: 19.7% – 75.4% Closing Stock Price as of 11/15/13 Precedent Transaction Analysis (1)(2) Enterprise Value / LTM Revenue Discounted Cash Flow Analysis (1)(2) nEBITDA Exit Multiple range of 8.0x – 10.0x applied to FY2017E Adjusted EBITDA of $286.8 million (4) nWACC: 9.2% – 10.2% n10.0x – 12.0x FY2013E Adjusted Pro Forma EBITDA of $177.3 million (4) Enterprise Value / LTM Adjusted EBITDA (4) 14

2013 EV / EBITDA 2014 EV / EBITDA 13.3x 13.1x 12.8x 12.2x 11.1x 11.1x 10.5x 10.3x 9.2x 9.1x 9.7x 0.0x2.0x4.0x6.0x8.0x10.0x12.0x14.0x16.0x18.0x11.8x 11.4x11.3x 11.0x 10.5x 9.9x 9.7x 9.3x 9.0x 7.0x 8.2x 0.0x2.0x4.0x6.0x8.0x10.0x12.0x14.0xCompa rable Companies Contract Research Organization Median (excludes Patheon) Contract Manufacturing Organization Median: 11.1x Median: 10.2x ‘12 – ‘14 Revenue CAGR 15.3% 14.6% 12.3% 9.5% 9.2% 6.6% 5.0% 3.9% 3.5% 0.4% 4.8% 0.0%4.0%8.0%12.0%16.0%20.0%Median: 7 .9% ’13 EBITDA Margin 27.5% 23.6% 21.1% 19.2% 17.8% 16.0% 15.4% 14.9% 13.2% 12.9% 14.2% 0.0%6.0%12.0%18.0%24.0%30.0%Me dian: 16.9% Sources: Public filings and Capital IQ as of November 15, 2013, except Cambrex which has EBITDA estimates as of November 1, 2013. (1)Based on calendarized Wall Street fiscal year consensus estimates as outlined on pg. 10 of this deck. (2)Patheon CY2012 Revenue accounts for $268.8 million of fiscal year revenue ending October 31, 2012 from Banner Pharmacaps. (3)Outstanding common shares, stock options, cash and debt per the 10Q filed by Patheon on September 5, 2013 for the period ending July 31, 2013. 15

EnterpriseEV / RevenueEV / EBITDAValueLTMLTMDateAcquirerTarget($mm)(x)(x)Contract Research Organization06/24/13KKRPRA International- na Confidential10/03/11Carlyle / Hellman & FriedmanPPD3,484.7 2.3x11.1x05/17/11inVentiv HealthPharmaNet- na Confidential05/04/11INC Research / Avista CapitalKendle International350.1 0.8x13.0x12/28/10Warburg PincusReSearch Pharmaceutical Services245.0 0.9x14.4x08/19/10Avista Capital / Teachers’ Private CapitalINC Research- na ConfidentialMean1.3x12.2xMedian0.9x11.8xContract Manufacturing Organization12/24/12Mitsubishi ChemicalQualicaps657.3 2.9xna 10/29/12PatheonBanner Pharmacaps255.0 na 10.2x08/06/12BC PartnersAenova Group- na na 08/22/11Catalent PharmaAptuit407.0 2.1x10.1x04/04/11KKRCapsugel2,375.0 3.2xna 02/24/11EurofinsLancaster Labs200.0 1.7xna Mean2.5x10.2xMedian2.5x10.2xOverall Mean2.0x11.7xOverall Median2.1x11.3xPrecedent Transactions Sources: Company filings, press releases, Capital IQ and Wall Street research. Notes: “na” indicates data is not available; “nm” indicates data in not meaningful. (1)2010 Kendle Adjusted EBITDA adjusted for one time restructuring expense of $4.5 million and goodwill impairment charge of $7.3 million. (2)2012 Qualicaps estimated revenue estimate of ¥19 billion per Mitsubishi Chemical Holdings Corporation public document “Completion of Acquisition of Qualicaps”, dated March 1, 2013. (3)2012 Banner estimated PF Adjusted EBITDA of $25 million per Patheon company presentation, dated October 29, 2012. (4)2010 Capsugel estimated revenue of $750 million per KKR press release, dated April 4, 2011. (5)2010 Lancaster Labs estimated revenue of $115 million per Thermo Fisher Scientific press release, dated February 24, 2011. (1) (2) (3) (4) (5) 16

Discounted Cash Flow Analysis Source: Financial Projections prepared by Patheon management and furnished by management of JLL Partners. Notes: (1)Tax rate assumption of 20.0% per Patheon management and furnished by management of JLL Partners. (2)Additional cash expenses are outlined on pg. 24 of this document. (3)Change in working capital assumed to be 14% of the change in revenue per Patheon management and furnished by management of JLL Partners. (4)Assumes a transaction close of October 31, 2013 with a mid-year convention. (5)Assumes $623.7 million in debt and $47.5 million per Patheon management and furnished by management of JLL Partners. (6)Fully-diluted shares calculated using the treasury stock method based on 140.9 million common shares, 11.1 million stock options at a weighted average exercise price of $2.65 USD and 0.447 million director stock units per Patheon management and furnished by management of JLL Partners. (7)Assumes a CAD to USD exchange rate of 0.956 as of November 15, 2013 per Capital IQ. Discounted Cash Flow Analysis Projected Fiscal Year Ending October 31, ($USDmm, except per share data)2014P2015P2016P2017PRevenue1,143.8$ 1,217.9$ 1,295.5$ 1,376.4$ Adjusted EBITDA203.9$ 229.9$ 257.5$ 286.8$ (-) Depreciation and Amortization(51.6) (54.9) (58.3) (61.9) EBIT152.3 175.0 199.2 224.9 (-) Taxes @ 20.0% (1)(30.5) (35.0) (39.8) (45.0) NOPAT121.9 140.0 159.4 179.9 (+) Depreciation and Amortization51.6 54.9 58.3 61.9 (-) Capital Expenditures(53.1) (56.3) (59.7) (63.2) (-) Additional Cash Expenses (2)(17.2) (11.5) (1.5) (1.5) (+/-) Changes in Net Working Capital (3)(12.5) (10.4) (10.9) (11.3) Unlevered Free Cash Flow90.7$ 116.7$ 145.6$ 165.7$ Sensitivity Analyses Implied Enterprise Value ($USDmm)Implied Equity Value ($USDmm)DiscountLTM EBITDA Exit Multiple (x)DiscountLTM EBITDA Exit Multiple (x)Rate (%)8.0x9.0x10.0xRate (%)8.0x9.0x10.0x9.2%2,040.72,242.32,443.99.2%1,464.51,666.11,867.79.7%2,007.32,205.32,403.29.7%1,431.11,629.11,827.010.2%1,974.62,169.02,363.410.2%1,398.41,592.81,787.2Implied Price per Share ($USD)Implied Perpetuity Growth Rate (%)DiscountLTM EBITDA Exit Multiple (x)DiscountLTM EBITDA Exit Multiple (x)Rate (%)8.0x9.0x10.0xRate (%)8.0x9.0x10.0x9.2%9.8011.1212.449.2%1.8%2.6%3.2%9.7%9.5810.8812.189.7%2.3%3.1%3.7%10.2%9.3710.6411.9210.2%2.8%3.6%4.2%(4)(5) (4)(5)(6) (4)(5)(6)(7) 17

Premiums Paid Detail Sources: Public filings, Wall Street research, and SDC Platinum (Thomson Reuters) as of November 15, 2013. Selected U.S. and Canadian Public Healthcare Companies Summary Criteria nSelected transactions involving U.S. and Canadian-based, publicly traded healthcare companies nTransactions announced from January 1, 2009 to date nTransaction values of between $500 million and $3 billion nIncludes only cash transactions DateTransaction ValueOffer PriceAnnouncedTarget NameAcquiror Name($USDmm)1 Day Prior4 Weeks Prior09/25/13MAKO Surgical CorpStryker Corp1,484 85.5% 107.2% 09/05/13Astex Pharmaceuticals IncOtsuka Holdings Co Ltd887 2.8% 70.3% 08/27/13Hi-Tech Pharmacal Co IncAkorn Inc602 23.5% 19.8% 07/30/13Optimer Pharmaceuticals IncCubist Pharmaceuticals Inc776 0.3% 14.6% 07/30/13Trius Therapeutics IncCubist Pharmaceuticals Inc787 17.9% 63.0% 06/25/13CML HealthCare IncLifeLabs Inc1,163 49.3% 39.3% 04/29/13Conceptus IncEvelyn Acquisition Co1,063 19.7% 30.5% 01/22/13MAP Pharmaceuticals IncAllergan Inc944 60.5% 62.0% 11/15/12Schiff Nutrition Intl IncReckitt Benckiser Group PLC1,318 81.1% 71.2% 11/05/12Metro Health Networks IncHumana Inc534 3.7% 14.0% 10/25/12PSS World Medical IncMcKesson Corp1,459 34.3% 25.8% 08/22/12Sunrise Senior Living IncHealth Care REIT Inc897 62.4% 126.9% 07/16/12Par Pharmaceutical Cos IncTPG Capital LP1,886 158.5% 118.3% 04/23/12Ardea Biosciences IncAstraZeneca PLC1,245 53.6% 38.8% 04/19/12Human Genome Sciences IncGlaxoSmithKline PLC2,910 98.7% 88.2% 03/12/12ZOLL Medical CorpAsahi Kasei Corp2,200 23.8% 27.5% 01/26/12Micromet IncArmstrong Acquisition Corp1,146 32.9% 52.6% 01/07/12Inhibitex IncBristol-Myers Squibb Co2,524 163.4% 77.6% 12/15/11SonoSite IncFujifilm Holdings Corp796 75.4% 67.3% 09/08/11Caliper Life Sciences IncPerkinElmer Inc612 42.1% 58.9% 07/05/11Immucor IncIVD Acquisition Corp1,687 30.3% 36.4% 04/11/11American Med Sys Holdings IncNIKA Merger Sub Inc2,704 34.4% 44.4% 02/22/11Clinical Data IncMagnolia Acquisition Corp1,200 6.2% 34.5% 02/14/11Emergency Medical Svcs CorpClayton Dubilier & Rice LLC2,823 (8.6%)(4.7%)02/08/11RehabCare Group IncKindred Healthcare Inc1,286 38.1% 39.2% 12/21/10Martek Biosciences CorpGreenback Acquisition Corp1,055 34.9% 43.7% 09/07/10ZymoGenetics IncBristol-Myers Squibb Co838 77.0% 119.1% 06/01/10ev3 IncCOV Delaware Corp2,692 18.9% 19.5% 05/24/10Odyssey HealthCare IncGentiva Health Services Inc924 40.0% 39.4% 05/17/10Psychiatric Solutions IncUniversal Health Services Inc1,965 10.8% 14.2% 03/10/10Facet Biotech CorpAbbott Laboratories719 66.6% 66.8% 12/21/09Chattem IncSanofi-Aventis SA1,781 33.6% 39.0% 12/16/09FGX International Holdings LtdEssilor International SA558 10.3% 18.3% 09/03/09Sepracor IncAptiom Inc2,574 27.6% 30.7% 07/27/09Varian IncAgilent Technologies Inc1,512 32.7% 31.1% 07/22/09Medarex IncBristol-Myers Squibb Co2,247 93.2% 96.6% 06/04/09Axsys Technologies IncGeneral Dynamics Advanced640 97.3% 42.6% 05/21/09Cougar Biotechnology IncJohnson & Johnson988 18.3% 23.2% 03/12/09CV Therapeutics IncGilead Sciences Inc1,330 76.2% 122.7% 01/12/09Advanced Medical Optics IncAbbott Laboratories1,378 148.6% 301.5% 01/05/09Indevus Pharmaceuticals IncEndo Pharmaceuticals Holdings592 42.9% 69.2% Mean (41)1,384 49.2% 58.6% Median (41)1,200 34.9% 42.6% High2,910 163.4% 301.5% 75th Percentile1,781 75.4% 70.3% 50th Percentile1,200 34.9% 42.6% 25th Percentile838 19.7% 30.5% Low534 (8.6%)(4.7%) 18

Appendix 19

Selected Public Companies — Trading Overview Sources: Public filings and Capital IQ as of November 15, 2013, except Cambrex which has EBITDA estimates as of November 1, 2013. (1)FD equity value = stock price * (common shares outstanding + restricted stock + options and warrants per the treasury stock method). (2)Enterprise value = FD equity value – cash and cash equivalents + total debt + preferred equity + non-controlling interests. (3)Wall Street consensus estimates per Capital IQ. (4)Based on calendarized Wall Street consensus estimates as outlined on pg. 10 of this deck. Outstanding common shares, stock options, cash and debt per the 10Q filed by Patheon on September 5, 2013 for the period ending July 31, 2013. Price% ofFD EquityEnterpriseEnterprise Value / Revenue (3)Enterprise Value / EBITDA (3)(11/15/13)52-Wk HighValue (1)Value (2)CY13CY14CY15CY13CY14CY15CompanyTicker($)(%)($mm)($mm)(x)(x)(x)(x)(x)(x)CROsCharles River LaboratoriesCRL51.73100.0%2,5323,0482.6x2.5x2.4x11.1x10.5x10.1xCovanceCVD86.7994.3%5,0274,6992.0x1.8x1.7x12.8x11.0x10.0xICON ICLR39.9890.4%2,4702,2521.7x1.5x1.4x13.1x11.4x10.1xPAREXELPRXL43.1078.3%2,4862,6871.5x1.4x1.2x11.1x9.9x8.4xQuintilesQ43.9892.6%5,9677,4032.0x1.8x1.7x12.2x11.3x10.3xMean91.1%1.9x1.8x1.7x12.1x10.8x9.8xMedian92.6%2.0x1.8x1.7x12.2x11.0x10.1xCMOsAlbany Molecular ResearchAMRI14.1298.3%4654321.7x1.7x1.6x9.1x9.0x8.9xCambrexCBM18.8496.8%5936692.2x2.0x1.8x10.3x9.7xna Lonza LONN94.9596.8%4,9307,6781.9x1.8x1.7x10.5x9.3x8.6xSiegfried SWX:SFZN168.1698.1%6065791.4x1.3x1.3x9.2x7.0x6.2xWuXi PharmaTechNYSE:WX32.1096.3%2,3762,1053.7x3.2x2.7x13.3x11.8x10.7xMean97.2%2.2x2.0x1.8x10.5x9.4x8.6xMedian96.8%1.9x1.8x1.7x10.3x9.3x8.8xOverall Mean94.2%2.0x1.9x1.8x11.3x10.1x9.3xOverall Median96.5%1.9x1.8x1.7x11.1x10.2x10.0xPatheon (4)TSX:PTI5.6987.5%8341,4201.4x1.3xna 9.7x8.2xna 20

Selected Public Companies — Growth and Margin Analysis Sources: Public filings and Capital IQ as of November 15, 2013, except Cambrex which has EBITDA estimates as of November 1, 2013. (1)FD equity value = stock price * (common shares outstanding + restricted stock + options and warrants per the treasury stock method). (2)Enterprise value = FD equity value – cash and cash equivalents + total debt + preferred equity + non-controlling interests. (3)Wall Street consensus estimates per Capital IQ. (4)Based on calendarized Wall Street consensus estimates as outlined on pg. 10 of this deck. Outstanding common shares, stock options, cash and debt per the 10Q filed by Patheon on September 5, 2013 for the period ending July 31, 2013. Revenue Growth (3)CAGREBITDA Growth (3)CAGREBITDA Margins (3)CY13CY14CY15’12—‘14CY13CY14CY15’12—‘14CY13CY14CY15Company(%)(%)(%)(%)(%)(%)(%)(%)(%)(%)(%)CROsCharles River Laboratories3.3%3.8%3.5%3.5%7.1%5.0%4.0%6.0%23.6%23.9%24.0%Covance9.7%8.7%6.8%9.2%21.5%15.8%10.7%18.6%15.4%16.4%17.0%ICON 19.4%10.1%9.1%14.6%47.3%15.1%12.9%30.2%12.9%13.5%13.9%PAREXEL17.6%7.2%9.2%12.3%32.4%11.7%18.5%21.6%13.2%13.7%14.9%Quintiles2.4%7.6%7.4%5.0%24.6%7.7%9.7%15.8%16.0%16.0%16.4%Mean10.5%7.5%7.2%8.9%26.6%11.1%11.1%18.5%16.2%16.7%17.2%Median9.7%7.6%7.4%9.2%24.6%11.7%10.7%18.6%15.4%16.0%16.4%CMOsAlbany Molecular Research9.2%4.1%6.7%6.6%53.3%0.7%1.0%24.3%19.2%18.6%17.6%Cambrex11.4%7.6%10.9%9.5%12.6%6.2%na 9.3%21.1%20.8%na Lonza (4.5%)5.6%4.3%0.4%7.2%13.0%8.0%10.1%17.8%19.1%19.7%Siegfried 5.0%2.8%3.4%3.9%50.1%30.9%13.8%40.2%14.9%19.0%20.9%WuXi PharmaTech15.3%15.3%15.4%15.3%20.8%12.2%10.5%16.4%27.5%26.8%25.6%Mean7.3%7.1%8.1%7.1%28.8%12.6%8.3%20.1%20.1%20.8%21.0%Median9.2%5.6%6.7%6.6%20.8%12.2%9.2%16.4%19.2%19.1%20.3%Overall Mean8.9%7.3%7.7%8.0%27.7%11.8%9.9%19.3%18.2%18.8%18.9%Overall Median9.4%7.4%7.1%7.9%23.1%12.0%10.5%17.5%16.9%18.8%17.6%Patheon (4)1.4%8.2%na 4.8%76.3%17.9%na 44.2%14.2%15.5%na 21

Weighted Average Cost of Capital Sources: Public filings, Ibbotson, Bloomberg, and Capital IQ as of November 15, 2013. (1)2-year weekly, historical-adjusted Beta per Bloomberg as of November 15, 2013, the most current reported period. (2)Assumes 20.0% corporate tax rate, per Patheon management and furnished by management of JLL Partners. (3)Assumes median capital structure of selected companies. (4)Represents 20-year Canadian Government Note. (5)Per 2013 Ibbotson; 8th decile of market capitalization ($514 million—$818 million). (6)Canadian long-horizon equity risk premium per Ibbotson International Risk Premia Report 2012. (7)Patheon’s weighted average cost of debt based on current outstanding debt of $569.5 million secured term loan at LIBOR plus 6.00% with a 1.25% LIBOR floor and $46.0 million secured revolving facility at 6.7%, the midpoint of the 5.8% and 7.75%. Unlevered Beta CalculationClosingStock PriceFD EquityTotalTotalTotal Debt /MarginalUnlevered Beta Calculation2-11/15/13)ValueDebtCap.Total EquityTotal Cap.Tax RateLevered1+(D*(1-t))/EUnleveredCompanyTicker($)($mm)($mm)($mm)(%)(%)(%)Beta (1)(x)BetaCharles River LaboratoriesCRL51.732,532$640$3,19025.3%20.1%35.0%0.981.160.84Covance CVD86.795,027$265$5,2925.3%5.0%35.0%0.731.030.70ICONICLR39.982,470– $2,470– – 12.5%0.651.000.65PAREXEL PRXL43.102,486$505$2,99120.3%16.9%35.0%1.151.131.01Quintiles Q43.985,967$2,046$8,01334.3%25.5%35.0%0.841.220.69Albany Molecular ResearchAMRI14.12465$6$4711.4%1.4%35.0%1.041.011.03CambrexCBM18.84593$101$69417.0%14.6%35.0%1.031.110.92LonzaLONN94.954,930$3,049$7,97861.8%38.2%22.0%1.231.480.83SiegfriedSWX:SFZN168.16606$58$6649.6%8.8%22.0%0.331.080.31WuXi PharmaTechNYSE:WX32.102,376$55$2,4312.3%2.3%15.0%0.721.020.70Mean17.7%13.3%28.2%0.871.130.77Median13.3%11.7%35.0%0.911.090.77Patheon Inc.TSX:PTI$5.69$834$626$1,46175.0%42.9%20.0%0.841.600.52Illustrative Weighted Average Cost of Capital CalculationSensitivityInputsNotationValueWACC (%)Levered Equity Beta:Debt /Unlevered BetaUnlevered Beta Ba0.77Cap.0.570.670.770.870.97Tax Rate (2)t20.0%8.0%8.3%8.8%9.3%9.9%10.4%Weight of Equity (3)We88.3%10.0%8.4%9.0%9.5%10.1%10.6%Weight of Debt (3)Wd11.7%12.0%8.6%9.1%9.7%10.2%10.8%Levered Equity Beta (3)Be0.8514.0%8.8%9.3%9.9%10.4%11.0%= [1+(1-t)*(Wd/We)]*Ba16.0%8.9%9.5%10.1%10.6%11.2%Cost of Equity:Risk-Free Rate (4)Rf3.0%Size Premium (5)Rp2.5%Levered Equity BetaBe0.85Market Risk Premium (6)Rm5.6%Cost of EquityKe10.2%=[Rf+Rp+(Be*Rm)]Cost of Debt:Pre-Tax Market Yield of Debt (7)Kd7.2%Tax Ratet20.0%Cost of DebtKd5.8%=[Kd*(1-t)]Weighted Average Cost of Capital (midpoint)WACC9.7%= [(Ke*We)+(Kd*Wd)+Id] 22

Financial Projections — Calendarized Key Assumptions nFinancial Projections per JLL Partners Source: Financial Projections prepared by Patheon management and furnished by management of JLL Partners. (1)Includes adjustments to SG&A related to consulting fees, stock-based compensation, special committee costs, executive severance costs and SEC registration costs as prepared by Patheon management and furnished by management of JLL Partners. Projected CYE December 31,CAGR (%)($USDmm)2013E2014E2015E2016E’12—‘16Commercial Manufacturing$661.6$712.2$754.9$800.2Pharmaceutical Development Services 149.4 163.3 173.1 183.4 Banner Life Sciences258.5 280.7 302.9 325.3 Revenue$1,069.5$1,156.1$1,230.9$1,309.014.6%% Growth40.8%8.1%6.5%6.3%Cost of Goods Sold746.5 775.8 819.0 863.9 Gross Profit323.0 380.3 411.8 445.1 26.2%% Margin30.2%32.9%33.5%34.0%Operating Expenses219.4 224.2 232.8 241.6 Operating Income$103.6$156.1$179.1$203.5418.0%% Margin9.7%13.5%14.5%15.5%Adjusted EBIT (1)$108.2$156.1$179.1$203.590.1%Depreciation and Amortization50.5 52.2 55.4 58.9 Adjusted EBITDA$158.7$208.3$234.5$262.445.9%% Growth173.8%31.2%12.6%11.9%% Margin14.8%18.0%19.1%20.0%Adjusted Pro Forma EBITDA$181.7——% Margin17.0% 23

Financial Projections — Calendarized Key Assumptions nFinancial Projections per JLL Partners Source: Financial Projections prepared by Patheon management and furnished by management of JLL Partners. (1)Includes adjustments to SG&A related to consulting fees, stock-based compensation, special committee costs, executive severance costs and SEC registration costs as prepared by Patheon management and furnished by management of JLL Partners. Projected CYE December 31,CAGR (%)($USDmm)2013E2014E2015E2016E’12—‘16Commercial Manufacturing$661.6$712.2$754.9$800.2Pharmaceutical Development Services 149.4 163.3 173.1 183.4 Banner Life Sciences258.5 280.7 302.9 325.3 Revenue$1,069.5$1,156.1$1,230.9$1,309.014.6%% Growth40.8%8.1%6.5%6.3%Cost of Goods Sold746.5 775.8 819.0 863.9 Gross Profit323.0 380.3 411.8 445.1 26.2%% Margin30.2%32.9%33.5%34.0%Operating Expenses219.4 224.2 232.8 241.6 Operating Income$103.6$156.1$179.1$203.5418.0%% Margin9.7%13.5%14.5%15.5%Adjusted EBIT (1)$108.2$156.1$179.1$203.590.1%Depreciation and Amortization50.5 52.2 55.4 58.9 Adjusted EBITDA$158.7$208.3$234.5$262.445.9%% Growth173.8%31.2%12.6%11.9%% Margin14.8%18.0%19.1%20.0%Adjusted Pro Forma EBITDA$181.7——% Margin17.0% 23