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Axcan Pharma to hold Annual and Special Meeting of Shareholders February 22, 2006


Feb 20, 2006 - 11:59 ET

MONT SAINT-HILAIRE, QC, Feb. 20 -

Attention Business/Financial Editors:

TSX SYMBOL (Toronto Stock Exchange): AXP
NASDAQ SYMBOL (NASDAQ National Market): AXCA

Axcan Pharma Inc. ("Axcan"or the "Company") announced today
that it will host its fiscal 2005 Annual
General Meeting of Shareholders on Wednesday, February 22, 2006. The Meeting
will be held at the Centre Mont-Royal in Montreal, 2200 Mansfield Street, at
9:00 A.M. (ET). For those who are unable to attend in person, a webcast of the
meeting and management presentation will be available on the Company's website
at www.axcan.com.

Axcan shareholders of record at the close of business on January 9, 2006,
will be entitled to vote upon matters considered at the meeting.

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
Europe. Its common shares are listed on the Toronto Stock Exchange under the
symbol "AXP" and on the NASDAQ National Market under the symbol "AXCA".



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