MONT-SAINT-HILAIRE, QUEBEC--(Marketwire - February 13, 2008) - Axcan Pharma Inc. ("Axcan" or "the Company") (TSX: AXP)(NASDAQ: AXCA), announced today that the Federal Minister of Industry, under the Investment Canada Act, has approved the proposed acquisition by an affiliate of TPG Capital of all outstanding common shares ("Common Shares") of Axcan through a Plan of Arrangement, as likely to be of net benefit to Canada. Axcan has previously received clearance under the Competition Act (Canada) and the requisite waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired; accordingly, Axcan has now received all regulatory approvals necessary to consummate the proposed acquisition.
