Press Release

Morgan Lewis Advises Eurand on $583 Million Acquisition by Axcan Holdings

December 01, 2010

PHILADELPHIA, December 1, 2010: Today, Eurand N.V. and Axcan Holdings, Inc. announced they have entered into a definitive agreement whereby Axcan will acquire all outstanding shares of Eurand for $12.00 per share in cash, or approximately $583 million. Eurand is a global specialty pharmaceutical company and Axcan is a pharmaceutical company that focuses on the treatment of gastrointestinal disorders.

Morgan Lewis served as legal counsel to Eurand on the transaction. The team consisted of Business and Finance partner Timothy Maxwell and associate Brian Westfield.

For more information about the transaction, please visit: http://ir.eurand.com/releasedetail.cfm?ReleaseID=533972