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Axcan Appoints Steve Gannon Senior Vice President and Chief Financial Officer

Jan 20, 2006 - 11:59 ET


Attention Business/Financial Editors:

TSX SYMBOL (Toronto Stock Exchange): AXP

Axcan Pharma Inc. (
NASDAQ:AXCA - TSX: AXP) announced today the appointment of Steve Gannon as Senior
Vice President and Chief Financial Officer (CFO) in order to enhance its
senior financial team. This appointment will be effective April 3, 2006.
Mr. Jean Vézina, formerly CFO, will continue to serve in the role of Vice
President, Finance.

"We are very pleased to welcome Mr. Gannon to the Axcan team. Steve
brings significant capital market experience to the Company, which will be
invaluable as Axcan moves to the next phase of its growth. We look forward to
Steve's contribution to our activities," said Frank Verwiel, M.D., President
and Chief Executive Officer of Axcan. "With the growth of the Company, Jean
Vézina will provide an increased focus on financial reporting excellence and
compliance in response to the increasingly complex regulatory and geographical
environment," Dr. Verwiel added.

As Senior Vice President and CFO, Mr. Gannon will provide financial
oversight and guidance of Axcan's operations and growth opportunities, and
enhance the capabilities of the organization by working closely with the
financial markets. Mr. Gannon brings extensive financial experience in
corporate growth initiatives such as acquisitions, corporate alliances and
partnerships within biotechnology and pharmaceutical companies. Mr. Gannon has
held a number of senior financial roles in AstraZeneca and most recently,
served as Chief Financial Officer of CryoCath Technologies Inc. Mr. Gannon
received his Bachelor of Commerce from the University of Concordia, and his
chartered accountant's designation (CA) in 1985.

Joining Axcan in December 1992, Jean Vézina has been instrumental in
managing Axcan's financing activities through several rounds of private
financing, as well as the Company's initial public offering in 1995 and the
NASDAQ listing in 2000. He also implemented best practices in public company
reporting, disclosure and financial control, and leads implementation of the
Company's Sarbanes-Oxley compliance measures worldwide. Enhancement of the
senior financial team, will allow him to concentrate fully on overall
compliance to applicable legislation, regulations and policies and ensure the
highest standard of internal controls.


Axcan is a leading specialty pharmaceutical company specialized in the
field of gastroenterology. Axcan markets a broad line of prescription products
sold for the treatment of symptoms in a number of gastrointestinal diseases
and disorders such as inflammatory bowel disease, irritable bowel syndrome,
cholestatic liver diseases and complications related to Cystic Fibrosis.
Axcan's products are marketed by its own sales force in North America and the
European Union. Its common shares are listed on the Toronto Stock Exchange
under the symbol "AXP" and on the NASDAQ National Market under the symbol

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995.

This release contains forward-looking statements, which reflect the
Company's current expectations regarding future events. To the extent any
statements made in this release contain information that is not historical,
these statements are essentially forward looking and are often identified by
words such as "anticipate", "expect", "estimate", "intend", "project", "plan"
and "believe". Forward-looking statements are subject to risks and
uncertainties, including the difficulty of predicting FDA and other regulatory
approvals, acceptance and demand for new pharmaceutical products, the impact
of competitive products and pricing, new product development and launch,
reliance on key strategic alliances, availability of raw materials, the
regulatory environment, fluctuations in operating results, the protection of
our intellectual property and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission and the Canadian
Multijurisdictional Disclosure System.

For further information: Isabelle Adjahi, Director, Investor Relations,
Axcan Pharma Inc., (450) 467-2600 ext. 2000,; Source: Axcan
Pharma Inc.