{1} Launches CANASA 1000 MG In The United States

MONT SAINT-HILAIRE, Quebec, Feb. 28 /PRNewswire-FirstCall/ -- Axcan Pharma Inc. ("Axcan" or the "Company") announced today the launch of CANASA 1000 mg, the only FDA approved once-daily mesalamine suppository for the treatment of ulcerative proctitis. Axcan received a three-year marketing exclusivity for the new dosage form under the non-patent exclusivity provisions of the Federal Food, Drug and Cosmetic Act.

"The once-a-day CANASA 1000 mg suppository offers a new treatment option for patients with ulcerative proctitis," said Dr. Miguel Regueiro, Associate Professor of Medicine and Co-Director of the Inflammatory Bowel Disease Center at the University of Pittsburgh Medical Center. "The 1000 mg suppository is as efficacious as the twice-a-day CANASA 500 mg suppository, but 1000 milligrams once a day is easier for patients to use and should improve compliance."

In the United States, the rectal mesalamine market is valued at approximately U.S. $82 million annually. According to IMS Health data published in December 2004, approximately 56% of all U.S. gastrointestinal prescriptions for rectal mesalamine were written for CANASA 500 mg, making Axcan's CANASA 500 mg the most prescribed brand of rectal mesalamine in the U.S.

ABOUT ULCERATIVE PROCTITIS

Ulcerative proctitis is a subgroup of ulcerative colitis, one of the most common inflammatory bowel diseases. In approximately 30% of patients with ulcerative colitis, the illness begins as ulcerative proctitis where bowel inflammation is limited to the rectum. Currently, it is estimated that there are approximately 1,000,000 cases of inflammatory bowel disease in the U.S. with approximately 400,000 new cases every year.

ABOUT AXCAN PHARMA

Axcan is a leading specialty pharmaceutical company involved 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 irritable bowel disorder, 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".

"Safe Harbor" statement under the Private Securities Litigation Reform ---------------------------------------------------------------------- Act of 1995. ------------ This press 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," "should," "project," "plan," and "believe." Forward-looking statements are subject to risks and uncertainties. Actual results could differ materially from those projected herein and depend on a number of factors including but not limited to risks and uncertainties, which may include 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 and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission and under the Canadian Multijurisdictional Disclosure System. The name CANASA is a trademark of Axcan Pharma Inc. and its subsidiaries.

AXCAN PHARMA INC.