Axcan Pharma Obtains Interim Order for Proposed Arrangement and Announces Date of Special Shareholder Meeting

MONT-SAINT-HILAIRE, QUEBEC--(Marketwire - December 20, 2007) - Axcan (TSX: AXP)(NASDAQ: AXCA) today announced that the Quebec Superior Court has issued an interim order authorizing, among other things, the holding of a special meeting of the shareholders of Axcan, at which shareholders will be asked to consider the previously-announced arrangement with an affiliate of TPG Capital, L.P.

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