MONT-SAINT-HILAIRE, QUEBEC--(MARKET WIRE)--Jun 29, 2007 -- Axcan Pharma Inc. (“Axcan” or the “Company”) (Toronto:AXP.TO - News)(NasdaqGS:AXCA - News) today announced that further to its call for redemption of all of its $125 million 4.25% Convertible Subordinated Notes Due 2008 (the “Notes”), which was announced on May 15, 2007, the holders of all of the Notes have exercised their right to convert their Notes in lieu of redemption. On June 28, 2007, the Company completed the conversion of the Notes by issuing the holders an aggregate of 8,924,080 shares of its common stock.
