MONT-SAINT-HILAIRE, QUEBEC (TSX: AXP)(NASDAQ: AXCA) today announced that on Thursday, December 6, 2007, the Company will host an Analyst and Investor Luncheon in New York City, NY, at 11:30 a.m. (Eastern time). Members of the Axcan management team will provide an overview of Axcan's business and outlook for 2008. Axcan will issue guidance for fiscal 2008 before market opens on the morning of December 6, 2007.

Due to space limitations, prior registration is necessary for this event. Axcan kindly asks that analysts and investors interested in attending contact Karen Gonzales from Christensen IR at (480) 614-3027, or by e-mail at kgonzales@ChristensenIR.com.

A live and archived webcast of the event, including presentation slides, will be available at www.axcan.com. The live version of the webcast will begin at 12 p.m. on Thursday, December 6, 2007.

ABOUT AXCAN PHARMA

Axcan is a leading multinational specialty pharmaceutical company focused on gastroenterology. The Company develops and markets a broad line of prescription products to treat a range of gastrointestinal diseases and disorders such as inflammatory bowel disease, irritable bowel syndrome, cholestatic liver diseases and complications related to pancreatic insufficiency. Axcan's products are marketed by its own specialized sales forces in North America and Europe. Its common shares are listed on the NASDAQ Global Market under the symbol "AXCA" and on the Toronto Stock Exchange under the symbol "AXP".

Contacts: Axcan Pharma Inc. Isabelle Adjahi Senior Director, Investor Relations and Communications 450-467-2600 ext. 2000 www.axcan.com

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