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Axcan Pharma to Ring the NASDAQ Stock Market Closing Bell in New York on December 12, 2006


Dec 07, 2006 - 03:30 ET

MONT-SAINT-HILAIRE, QUEBEC--(CCNMatthews - Dec. 7, 2006) - Axcan Pharma Inc. ("Axcan" or the "Company") (TSX:AXP)(NASDAQ:AXCA) announced today that on Tuesday, December 12, 2006, President and Chief Executive Officer, Frank Verwiel, M.D., will ring the NASDAQ stock market closing bell. Dr. Verwiel will be joined by other members of the Axcan management team. The ceremony will take place at the NASDAQ MarketSite at 4, Times Square, New York at 4:00 p.m. (Eastern time).

Axcan began trading on the NASDAQ National Market under the ticker symbol "AXCA" in 2000. Effective from July, 2006, the NASDAQ National Market was renamed the NASDAQ Global Market(SM), and Axcan was listed on the NASDAQ Global Select Market(SM), a tier of the NASDAQ Global Market(SM) with the highest listing standards.

"Following the recent announcement of our very successful fiscal year, this is a particularly appropriate time for Axcan to participate in such a prestigious ceremony," commented Dr. Verwiel. "We are delighted to have such a forum to celebrate our excellent financial and operational performance in 2006, and also to look forward to further achievements in fiscal 2007. The six years that Axcan has been listed on the NASDAQ stock market have been particularly important for the Company in terms of its growth and expansion, and I would like to take this opportunity to thank and congratulate our dedicated employees, shareholders and all stakeholders for their contribution to the current strength of Axcan's business, and for allowing Axcan to move forward to build towards achieving its vision to become the reference gastroenterology specialty pharmaceutical company."

The closing bell ceremony will be available for viewing at 4:00 p.m. through the NASDAQ MarketSite web cam at http://www.nasdaq.com/reference/marketsite_about.stm.

ABOUT AXCAN PHARMA

Axcan is a leading multinational specialty pharmaceutical company focused on gastroenterology. The company develops and markets a broad line of prescription products to treat a range of gastrointestinal diseases and disorders such as inflammatory bowel disease, irritable bowel syndrome, cholestatic liver diseases and complications related to pancreatic insufficiency. Axcan's products are marketed by its own specialized sales forces in North America and Europe. Its common shares are listed on the NASDAQ Global Market under the symbol "AXCA" and on the Toronto Stock Exchange under the symbol "AXP".

"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 Canadian securities regulators, including under the Canadian Multi-jurisdictional Disclosure System.



Axcan Pharma Inc.
Isabelle Adjahi
Director, Investor Relations
450-467-2600 ext. 2000
www.axcan.com