The Independent Directors of the speciality pharmaceutical company Eurand, acting on behalf of the company’s Board, have approved an acquisition agreement under which Axcan Holdings will buy Eurand for US$12.00 per share in cash in a deal worth US$583 M. Axcan will gain complete control of Eurand’s approved pancreatic enzyme product (PEP) Zenpep® (pancrelipase), thereby strengthening its PEP portfolio.