Aventis has agreed to sell Axcan Pharma Inc the North American rights to three Aventis gastrointestinal products. Under the terms of the agreement, Axcan will acquire Carafate and Bentyl for the U.S. market and Sulcrate, Bentylol and Proctosedyl for the Canadian market for a cash purchase price of US $145 million.

These divestments of non-strategic products are in line with Aventis' approach to actively managing its product portfolio. This approach aims to achieve a consistent rejuvenation of the portfolio as products being divested are replaced by compounds aimed at strengthening key disease areas, such as oncology and diabetes.

In 2002, Aventis' net sales of Carafate and Bentyl in the U.S. market and net sales of Sulcrate, Bentylol and Proctosedyl in the Canadian market were approximately US $42 million.

Carafate/Sulcrate (sucralfate tablets and suspensions marketed under the brand Carafate in the U.S. and Sulcrate in Canada) are indicated for the treatment of active duodenal ulcers. Sales in North America for Carafate and Sulcrate amounted to approximately US $31.4 million in 2002.

Bentyl/Bentylol (dicyclomine capsules and tablets marketed under the brand Bentyl in the U.S. and Bentylol in Canada) are antispasmodic and anticholinergic drugs mainly used for the relief of gastrointestinal symptoms associated with irritable bowel syndrome. Sales in North America for Bentyl and Bentylol amounted to approximately US $7.5 million in 2002.

Proctosedyl (hydrocortisone acetate ointment and suppositories) is indicated for the reduction of swelling, pain and inflammation of hemorrhoids and other rectal lesions. Sales in Canada for Proctosedyl amounted to approximately US $3 million in 2002.

This transaction is expected to be completed in the fourth quarter of 2003, pending U.S. regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR").