Axcan Pharma Inc.

Axcan Pharma Inc.

April 28, 2008 08:14 ET

Axcan Provides Preliminary Revenue Results for the Second Quarter of Fiscal Year 2008

WILMINGTON, DELAWARE--(Marketwire - April 28, 2008) - Axcan Intermediate Holdings Inc., Axcan Pharma Inc.'s parent company (together "Axcan" or the "Company") today announced that revenue for the three-month period ended March 31, 2008 is expected to be within the range of $93 million to $96 million, compared to revenue of $85.3 million for the three-month period ended March 31, 2007. Consistent with its obligations under the indenture for its $228 million 9.25% Senior Secured Notes due 2015, the Company expects to release complete results for its second quarter of fiscal 2008 on or before May 30, 2008.

Highlights of the quarter include the following (all amounts are stated in U.S. dollars):

- The closing of the acquisition of Axcan by affiliates of TPG Capital and certain co-investors and consummation of the associated financing (the "Transactions");

- Estimated $93 million to $96 million revenue includes combined revenue for Axcan Pharma Inc. for periods prior to the Transactions, and for Axcan Intermediate Holdings Inc. post the Transactions;

- Revenues were derived from Axcan's portfolio of gastrointestinal products, as the Company continued to experience strong demand across its core franchise product lines, including URSO, CANASA, CARAFATE, ULTRASE and VIOKASE;

- For the three-month period ended March 31, 2008, no significant changes are anticipated compared to the three-month period ended December 31, 2007 with respect to the Company's selling and marketing infrastructure. In addition, Axcan did not initiate any significant additional research and development programs that were not initiated prior to the Transactions;

- Axcan incurred certain one-time transaction fees and purchase accounting adjustments in relation to the Transactions during the three-month period ended March 31, 2008.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall it constitute an offer or solicitation of a sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.


Axcan is a privately-held, 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 the European Union and through commercial collaborations in many markets around the world.


This release contains forward-looking statements, which reflect the Company's current expectations regarding future events. It includes, for example, statements regarding (i) the revenue the Company will report for the quarter ending March 31, 2008, (ii) the demand for the Company's products, and (iii) the results the Company will report with respect to certain expenses for the quarter ending March 31, 2008. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are subject to risks and uncertainties, including the fact that the information regarding expected financial results for the quarter ending March 31, 2008 is preliminary and that the Company may identify required adjustments to these preliminary results as it completes financial statements for the quarter which would change its results from those provided above, the difficulty of predicting whether the Company will receive Food and Drug Administration and other regulatory approvals, whether acceptance and demand for our pharmaceutical products will continue at historical levels, 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, the protection of our intellectual property and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission and the Canadian securities regulators.

Contact Information

  • Axcan Pharma Inc.
    Isabelle Adjahi
    Senior Director, Investor Relations and Communications
    450-467-2600 ext. 2000