Washington, D.C. 20549

                            REPORT OF FOREIGN ISSUER

                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                         For the month of February 2003

                             AETERNA LABORATORIES INC.
                 (Translation of registrant's name into English)

                        1405, boul. du Parc-Technologique
                                 Quebec, Quebec
                                 Canada, G1P 4P5
                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

                      Form 20-F        Form 40-F   X
                                -----            -----
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

                        Yes         No   X
                            -----      -----

If  "Yes"  is  marked,  indicate  below  the file  number  assigned  to the
registrant in connection with Rule 12g3-2(b): 82-

                                 DOCUMENTS INDEX


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1.       Press Release of February 14, 2003: AEterna Receives
         Milestone Payment from Baxter

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                       [AETERNA LOGO]

                                                                 PRESS RELEASE
                                                         FOR IMMEDIATE RELEASE


QUEBEC CITY,  CANADA,  FEBRUARY 14, 2003 - AEterna  Laboratories Inc. (TSX:
AEL; NASDAQ:  AELA)  announced  that Baxter  Healthcare  S.A.  has made
another payment in a series of  milestone  payments to its  subsidiary
Zentaris AG, for further assessment of the compound D-63153,  an LHRH
antagonist  currently being assessed in a Phase II clinical trial for
prostate cancer. The milestone is part of the ongoing agreement between the
two companies.

The agreement  provides  Baxter with worldwide  rights to this compound for
all indications,  while Baxter assumes 100% of all clinical  development
costs. Additional  milestones  are  projected,  based on successful
development of the drug.

"We are  very  pleased  with the  development  of this  collaboration  with
Baxter.  It is once again a recognition  of the potential of our drug
discovery platform," said Dr. Jurgen Engel, Chief Executive Officer at
Zentaris as well as AEterna's  Executive Vice  President,  Global Research
and Development and Chief Operating Officer.

"This agreement is an additional  example of the worldwide growth potential
provided by our recent  acquisition  of Zentaris AG,"  concluded  Gilles
Gagnon, President and Chief Executive Officer at AEterna.

ABOUT D-63153

D-63153 is a peptide-based active substance presently in a Phase II clinical
trial for prostate cancer. The development of this Luteinizing Hormone
Releasing Hormone (LHRH) antagonist is aimed at the treatment of advanced
prostate cancer. D-63153 has significant potential for development in both
oncology and endocrinology.


AEterna is a biopharmaceutical company focused on the development of novel
therapeutic treatments, mainly in oncology and endocrinology. The product
pipeline includes 12 products ranging from preclinical stage up to
commercialization. AEterna has strategic worldwide partners such as Access
Oncology, Ardana Bioscience, Baxter Healthcare S.A., Grupo Ferrer, Hainan
Tianwang International Pharmaceutical, Mayne Group, Medac GmbH, Nippon
Kayaku, Serono International S.A., Shionogi & Co., Ltd. and Solvay
Pharmaceuticals B.V.

AEterna owns 100% of the biopharmaceutical company, Zentaris AG, based in
Frankfurt, Germany.

AEterna also owns 61.8% of Atrium Biotechnologies Inc., which develops and
markets nutritional supplements, as well as active ingredients and fine
chemicals intended for the cosmetics, nutritional, fine chemical and
pharmaceutical industries. Atrium markets over 500 products in 20 countries to
industry leaders such as Estee Lauder, L'Oreal, Clarins, Chanel, Aventis,
SanofiSynthelabo and Nestle.

AEterna and its entities have 270 employees in Canada and Europe.

AEterna shares are listed on the Toronto Stock Exchange (AEL) and the NASDAQ
National Market (AELA).

News releases and additional information about AEterna are available on its
Web site at


This press release contains forward-looking statements, which are made pursuant
to the safe harbor provisions of the U.S. Securities Litigation Reform Act of
1995. Forward-looking statements involve known and unknown risks and
uncertainties which could cause the Company's actual results to differ
materially from those in the forward-looking statements. Such risks and
uncertainties include, among others, the availability of funds and resources to
pursue R&D projects, the successful and timely completion of clinical studies,
the ability of the Company to take advantage of the business opportunities in
the pharmaceutical industry, uncertainties related to the regulatory process and
general changes in economic conditions. Investors should consult the Company's
ongoing quarterly and annual filings with the Canadian and U.S. securities
commissions for additional information on risks and uncertainties relating to
the forward-looking statements. Investors are cautioned not to rely on these
forward-looking statements. The Company does not undertake to update these
forward-looking statements.

                                  - 30 -

MEDIA RELATIONS:                            INVESTOR RELATIONS:
Paul Burroughs                              Jacques Raymond
Tel.: (418) 652-8525 ext. 406               Tel.: (418) 652-8525 ext. 360
Cell.: (418) 573-8982                       Cell.: (514) 703-5654
Fax: (418) 577-7700                         Fax: (418) 577-7700
E-mail:          E-mail:

USA                                         EUROPE
Lisa Lindberg                               Matthias Seeber
Tel.: (212) 825-3210                        Tel.: 011 49 69 4 26 02 34 25
Fax: (212) 825-3229                         Fax: 011 49 69 4 26 02 34 44
E-mail:                  E-mail:


             Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

                                        AETERNA LABORATORIES INC.

Date:  February 14, 2003                By:  /s/ Claude Vadboncoeur
------------------------                     ------------------------
                                             Claude Vadboncoeur
                                             Vice President, Legal Affairs and
                                             Corporate Secretary