Axcan Pharma Announces Strong Third Quarter 2006 Revenue Of $76.7 Million And Diluted Income Per Share Of $0.26, Revenue Guidance For Fiscal 2006 Increased

MONT-SAINT-HILAIRE, QUEBEC -- (MARKET WIRE) -- August 10, 2006 -- Axcan Pharma Inc. (TSX: AXP)(NASDAQ: AXCA) today reported financial results for the third quarter of fiscal 2006, ended June 30, 2006 (all amounts are stated in U.S. dollars). Highlights for the third quarter include: Axcan Announces Strong Third Quarter 2006 Revenue of $76.7 Million and Diluted Income Per Share of $0.26, Revenue Guidance for Fiscal 2006 Increased STRONG REVENUE OF $76.7 MILLION, REPRESENTING GROWTH OF 29% COMPARED TO PRIOR-YEAR PERIOD DILUTED INCOME PER SHARE INCREASES TO $0.26 VERSUS $0.09 A YEAR EARLIER, A 189% INCREASE REVENUE GUIDANCE FOR FISCAL 2006 INCREASED TO $280-290 MILLION MONT-SAINT-HILAIRE, QUEBEC -- (MARKET WIRE) -- August 10, 2006 -- Axcan Pharma Inc. (TSX: AXP)(NASDAQ: AXCA) today reported financial results for the third quarter of fiscal 2006, ended June 30, 2006 (all amounts are stated in U.S. dollars). Highlights for the third quarter include: - Strong revenue of $76.7 million representing a 29% increase compared to the same period in 2005, illustrating strength of core business - Fully diluted income per share increased 189% to $0.26, compared to the same period a year earlier - Revenue guidance for fiscal 2006 increased to $280-290 million