Edgar Filing: AETERNA LABORATORIES INC

FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
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 March 2004

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

DOCUMENTS DESCRIPTION

--------------- --------------------------------------------------------------------------

1. Press release of November 19, 2003: APPOINTMENTS TO AETERNA'S BOARD Of
DIRECTORS

2. Press release of November 26, 2003: AETERNA SUBSIDIARY ATRIUM ACQUIREs
ANOTHER COMPANY

3. Press release of January 23, 2004: AETERNA SUBSIDIARY ZENTARIS AND SOLVAy
PHARMACEUTICALS SIGN EXTENSIVE COLLABORATION AGREEMENT

4. Press release of February 2, 2004: AETERNA THROUGH ITS
SUBSIDIARy ZENTARIS SIGNS PARTNERSHIP WITH ROCHE IN BRAZIL FOR
NEW TREATMENT OF LEISHMANIASIS, A DEVASTATING TROPICAL DISEASE

5. Press release of February 17, 2004: AETERNA SELECTED TO PRESENT
AT BIO CEO & INVESTOR CONFERENCE

6. Press release of February 20, 2004: AETERNA LABORATORIES ANNOUNCES FOURTH
QUARTER AND 2003 FINANCIAL RESULTS CONFERENCE CALL AND WEBCAST

7. Press release of February 27, 2004: AETERNA LABORATORIES REPORTS 2003
FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS

8. Press release of March 3, 2004: AETERNA SUBSIDIARY ATRIUM BIOTECHNOLOGIES
ACQUIRES PURE ENCAPSULATIONS FOR $50 MILLION IN CASH

9. Press release of March 11, 2004: AETERNA EXPANDS PIPELINE AS ZENTARIS
SUBSIDIARY ESTABLISHES NEW RESEARCH COLLABORATIONS WITH UNIVERSITY
LABORATORIES IN FRANCE, GERMANY AND ITALY
--------------- --------------------------------------------------------------------------

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

APPOINTMENTS TO AETERNA'S BOARD OF DIRECTORs

QUEBEC CITY, QUEBEC, NOVEMBER 19, 2003 -- AEterna Laboratories Inc. (TSX: AEL;
Nasdaq: AELA) today announced the appointment to its Board of Directors of Henri
A. Roy, Chairman of the Board, President and General Manager of the Societe
generale de financement du Quebec (SGF). Mr. Roy takes over the seat left vacant
on AEterna's Board, after Francis Bellido's departure from the SGF last October.
However, Mr. Bellido, now President and CEO of Biomundis, rejoins AEterna's
Board, replacing Jean-Claude Gonneau, Managing Director SG Cowen, Europe SAS,
who had been a board member since the Company's early beginnings in 1995.

"We are delighted to be able to count on Mr. Roy and Mr. Bellido as members of
our Board," stated Dr. Eric Dupont, Chairman of the Board of AEterna
Laboratories. "Because of their respective experience in the development and
marketing of pharmaceutical products as well as in the private and public
business sectors, these experts will prove to be significant assets in our
growth strategy. On the other hand, I would like to thank Mr. Gonneau for his
valuable work during the past few years and for his contribution to AEterna's
expansion at the international level."

HENRI A. ROY, MBA, CHAIRMAN OF THE BOARD, PRESIDENT AND GENERAL MANAGER, SGF

Henri A. Roy is a seasoned executive with considerable experience in directing
and taking charge of challenging corporate situations. He also has extensive
investment expertise of private and public capital markets. Mr. Roy has held
executive positions in several key industrial sectors, both in North America and
overseas.

He has held senior executive management positions with a number of major North
American companies, including Telesystem, Trizec, BCE, Cambior, Provigo and
Standard Oil as well as being an active member of the boards of numerous
companies, such as Domtar, Quebecor, Laurentian Bank, BCE Mobile, Cambior,
Provigo and IA Pacific.

Mr. Roy holds a Master of Business Administration degree from the Harvard
Business School and a Bachelor of Mechanical Engineering degree from McGill
University.

FRANCIS BELLIDO, PHD, PRESIDENT AND CEO, BIOMUNDIS

Mr. Bellido has acquired more than 15 years experience in fields such as
business development, strategy, marketing, regulatory affairs and scientific
research.

Mr. Bellido holds a doctorate degree in medical microbiology and a master degree
in pharmaceutical sciences from the University of Geneva. For close to 10 years,
he worked for the pharmaceutical company Eli Lilly as Head of Regulatory
Affairs, Director of the Infectious Disease Department as well as Head of
Strategy and Business Development. He then joined the Societe generale de
financement (SGF) du Quebec, where he was, until recently, President and COO of
SGF Sante.

ABOUT AETERNA LABORATORIES

AEterna Laboratories is a biopharmaceutical company with an extensive portfolio
of marketed and development-stage products in oncology, endocrinology and
infectious diseases. In oncology, Neovastat(R) is in a Phase III trial for
non-small cell lung cancer. In endocrinology, Cetrotide(R) is sold in the U.S.
and Europe to the IN VITRO fertilization market, and is in Phase II clinical
trials for endometriosis, uterus myoma and enlarged prostate (BPH). A further
seven clinical programs are underway with various compounds.

AEterna owns 100% of the biopharmaceutical company, Zentaris GmbH, based in
Frankfurt, Germany. Zentaris generated more than $30 million in revenues and was
cash flow positive in 2002.

In addition, AEterna owns 62% of Atrium Biotechnologies, a profitable and
growing developer, distributor and marketer of active ingredients, fine
chemicals, cosmetic and nutritional products with sales exceeding $100 million
in 2002.

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 www.aeterna.com. To find out more about the
current Phase III trial in non-small cell lung cancer, call 888-349-3232.

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Contacts:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Jacques Raymond
(418) 652-8525 ext. 406 (418) 652-8525 ext. 360
paul.burroughs@aeterna.com jacques.raymond@aeterna.com

U.S. INVESTOR RELATIONS
Lippert/Heilshorn & Associates
Kim Golodetz
(212) 838-3777
kgolodetz@lhai.com
Bruce Voss
(310) 691-7100
bvoss@lhai.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA SUBSIDIARY ATRIUM ACQUIRES ANOTHER COMPANY

ALL AMOUNTS ARE IN CANADIAN DOLLARS

QUEBEC CITY, CANADA, NOVEMBER 26, 2003 - Atrium Biotechnologies Inc., a
subsidiary of AEterna Laboratories Inc. (TSX: AEL; Nasdaq: AELA) today announced
the acquisition of 100% of all issued and outstanding shares of Siricie S.A. for
$2 million cash. Based in Paris, this profitable company is focused mainly in
the development and marketing of active ingredients drawn from marine life for
the cosmetics industry. In 2002, Siricie generated revenues of more than $2.5
million.

"This acquisition, our fourth over the last two years, essentially allows us to
offer a dozen additional novel active ingredients to our customers and reinforce
our relationships with them," said Luc Dupont, CEO and Vice Chairman of the
Board at Atrium. "During the past few years, we have managed to further expand
the marketing network for all our products at the international level and
position Atrium as a leader in its field. The acquisition of Siricie is part of
the second stage of our growth strategy which aims at enhancing our portfolio of
novel products in order to broaden our offer to customers."

ABOUT SIRICIE S.A.

Founded in 1992, Siricie has two divisions. The Lanatech division has a
portfolio of products and active ingredients drawn on marine life, geared
towards the cosmetics industry. The Iris division specializes in quality control
and consumer reports for the cosmetics field. It has activities in Europe, Asia
and the Americas.

ABOUT ATRIUM BIOTECHNOLOGIES INC.

Atrium develops and markets active ingredients and speciality fine chemicals for
the cosmetics, chemical, pharmaceutical and nutritional industries. Its
international business network and portfolio of 800 products sold to over 2,000
customers including Estee Lauder, L'Oreal, Clarins, Chanel, Aventis,
SanofiSynthelabo and Nestle have generated significant growth in sales and
earnings since the Company was founded in January 2000.
In 2002, sales exceeded $100 million.

ABOUT AETERNA LABORATORIES INC.

AEterna owns 100% of the biopharmaceutical company, Zentaris GmbH, based in
Frankfurt, Germany. Zentaris generated more than $30 million in revenues and was
cash flow positive in 2002. In addition, AEterna owns 62% of Atrium
Biotechnologies Inc.

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Contacts:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Jacques Raymond
(418) 652-8525 ext. 406 (418) 652-8525 ext. 360
paul.burroughs@aeterna.com jacques.raymond@aeterna.com

U.S. INVESTOR RELATIONS
Lippert/Heilshorn & Associates
Kim Golodetz
(212) 838-3777
kgolodetz@lhai.com
Bruce Voss
(310) 691-7100
bvoss@lhai.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA SUBSIDIARY ZENTARIS AND SOLVAY PHARMACEUTICALS
SIGN EXTENSIVE COLLABORATION AGREEMENT

Development of novel compound class
for a broad variety of indications offers huge potential

ALL AMOUNTS ARE IN CANADIAN DOLLARS

QUEBEC CITY, QUEBEC, FRANKFURT/MAIN (GERMANY), AND BRUSSELS (BELGIUM) JANUARY
23, 2004 -- AEterna Laboratories Inc. (TSX: AEL; Nasdaq: AELA) today announced
that its 100%-owned subsidiary Zentaris GmbH and Solvay Pharmaceuticals B.V.
have entered into an extensive collaboration agreement. Based on the agreement,
Solvay Pharmaceuticals and Zentaris will jointly push ahead Zentaris' research
project aimed at developing novel, low molecular weight and orally-bioavailable
peptidomimetic LHRH (Luteinizing Hormone Releasing Hormone) antagonists.
Potential indications include endometriosis, uterus myoma, benign prostatic
hyperplasia (BPH), as well as malignant disorders such as breast and prostate
cancer.

As part of the agreement, Solvay Pharmaceuticals secures itself exclusive
worldwide rights to all gynecological indications as well as to BPH, while
Zentaris retains exclusive rights to all other indications, including oncology.
The contract also provides for Zentaris to receive, upon signing, an amount of
$5 million resulting from an upfront payment, as well as proceeds from the
coverage of past development costs. In addition, the agreement foresees for
Solvay to fund further preclinical and clinical development activities to be
performed by Zentaris up to a fixed amount and to make milestone payments.

Following Zentaris' ongoing interest in the area of LHRH antagonists, a drug
discovery project aiming at the identification of peptidomimetic leads was
initiated a few years ago. Such leads are expected to act on the LHRH receptor
similar to decapeptides, however, with the crucial benefit of oral
bioavailability. Having achieved proof-of-principle regarding oral
bioavailability, Zentaris now expects to have a preclinical development
candidate available in the course of this year.

"The importance of this agreement to our Company is at least twofold: it
manifests the excellent collaboration already in place with Solvay, as evidenced
by the current Phase II clinical trials project with Cetrorelix. In addition, it
is yet another proof of the research competence and commitment of our internal
drug discovery unit," said Dr. Jurgen Engel, Chairman and Managing Director of
Zentaris GmbH, Executive Vice President, Global R&D and COO at AEterna.

"We are delighted to partner with such a prestigious company as Solvay," said
Gilles Gagnon, President and CEO at AEterna. "The magnitude of this agreement
reflects the

robustness of our pipeline with products at all stages of development and
validates our new business model which encompasses partners at all levels of
drug development."

Solvay Pharmaceuticals' global R&D head, Werner Cautreels adds, "Our established
marketing franchise in the women's health arena is well positioned to make
optimal use of the potential new products coming from Zentaris' novel
peptidomimetic LHRH drug discovery activities. We are happy to work with
creative people from any source inside or outside our own facilities."

ABOUT SOLVAY

Solvay Pharmaceuticals is the pharmaceutical activities arm of Solvay. Apart
from women's and men's health, it is active in carefully selected indications
within the fields of cardiovascular, gastroenterological and mental health. It
employs some 7,500 people and in 2002, it had a turnover of E1.9 billion.

Solvay is an international chemical and pharmaceutical Group with headquarters
in Brussels. It employs more than 30,000 people in 50 countries. In 2002, its
consolidated sales amounted to E7.9 billion, generated by its four sectors
of activity: Pharmaceuticals, Chemicals, Plastics and Processing. Solvay is
listed on the Euronext 100 Index of top European companies. For further
information, please consult: www.solvay.com and www.solvaypharmaceuticals.com .

ABOUT AETERNA LABORATORIES

AEterna Laboratories along with its wholly-owned subsidiary, Zentaris GmbH, is a
biopharmaceutical company with an extensive portfolio of 2 marketed and 10
development-stage products in endocrinology, oncology and infectious diseases.
Cetrorelix (Cetrotide(R)) is sold in the U.S. and Europe to thE IN VITRO
fertilization market, and is in Phase II clinical trials for endometriosis,
uterus myoma and enlarged prostate (BPH). Miltefosine (Impavido(R)) is sold for
black fever and has successfully completed a Phase III trial in parasitic skin
disease. Neovastat(R) is in a Phase III trial for non-small cell lung cancer.
Several other clinical programs are underway with various compounds.
Furthermore, AEterna benefits from a discovery platform of 100,000 molecules
which is generating promising new compounds.

In addition, AEterna owns 62% of Atrium Biotechnologies Inc. which develops and
markets active ingredients and speciality chemicals for the cosmetics, chemical,
pharmaceutical and nutritional industries.

News releases and additional information are available at www.aeterna.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements 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 business opportunities in the pharmaceutical industry,
uncertainties related to the regulatory process and general changes in economic
conditions. Investors should consult the Company's 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.

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Contacts:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Jacques Raymond
(418) 652-8525 ext. 406 (418) 652-8525 ext. 360
paul.burroughs@aeterna.com jacques.raymond@aeterna.com

U.S. INVESTOR RELATIONS
Lippert/Heilshorn & Associates
Kim Golodetz
(212) 838-3777
kgolodetz@lhai.com
Bruce Voss
(310) 691-7100
bvoss@lhai.com

[ROCHE
LOGO] [AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA THROUGH ITS SUBSIDIARY ZENTARIS SIGNS PARTNERSHIP
WITH ROCHE IN BRAZIL FOR NEW TREATMENT OF LEISHMANIASIS,
A DEVASTATING TROPICAL DISEASE

QUEBEC CITY, CANADA/RIO DE JANEIRO, BRAZIL/FRANKFURT, GERMANY, FEBRUARY 2, 2004
- Roche and AEterna Laboratories Inc. (TSX: AEL; NASDAQ: AELA) announced today a
partnership for the marketing in Brazil of Impavido(R) (Miltefosine), the
breakthrough oral therapy of leishmaniasis. The agreement was signed between
Produtos Roche QFSA in Sao Paulo and Zentaris GmbH in Frankfurt, a 100%
subsidiary of AEterna Laboratories Inc.

Under this agreement, Roche will support Zentaris in the registration process
and will market the product for Zentaris in Brazil. Furthermore, Zentaris will
supply Impavido(R) to Roche. Brazil is the country in South America that is most
affected with the deadly visceral leishmaniasis (black fever) and the painful
cutaneous leishmaniasis (parasitic skin disease). Both parties will immediately
start clinical bridging trials, as requested from the Brazilian health
authorities.

The registration of the first oral treatment for leishmaniasis in Brazil would
be a breakthrough in fighting this awful disease. It is estimated that, every
year, up to 50,000 people are newly infected in Brazil, 10% of them with the
deadly visceral form. Because of these numbers, there is an urgent need for new
treatments for leishmaniasis and Impavido(R) in Brazil.

"The drug has proven to be safe and effective in India for visceral
leishmaniasis and in clinical trials for cutaneous leishmaniasis in Colombia and
Guatemala," said Prof. Jurgen Engel, Managing Director of Zentaris GmbH,
Executive Vice President, Global R&D and Chief Operating Officer at AEterna.
"The partnership with Roche is the best opportunity to make the drug available
very fast in Brazil where it is urgently needed."

Leishmaniasis is a tropical disease caused by the leishmania parasite. According
to the World Health Organization (WHO), more than 12 million people are affected
worldwide, with an infection rate of 2 million new cases per year. Impavido(R)
has recently been approved in India for the treatment of the visceral form of
this disease.

ABOUT ROCHE

Headquartered in Basel, Switzerland, Roche is one of the world's leading
innovation-driven healthcare groups. Its core businesses are pharmaceuticals and
diagnostics. Roche is number one in the global diagnostics market, the leading
supplier of pharmaceuticals for cancer and a leader in virology and
transplantation medicine. As a supplier of products and services for the
prevention, diagnosis and treatment of disease, the Group contributes on a broad
range of fronts to improving people's health and quality of life. Roche employs
roughly 65,000 people in 150 countries. The Group has alliances and research and
development agreements with numerous partners, including majority ownership
interests in Genentech and Chugai.

ABOUT AETERNA LABORATORIES

AEterna Laboratories, along with its wholly-owned subsidiary Zentaris GmbH, is a
biopharmaceutical company with an extensive product portfolio, including 2
already marketed and several other products at early and late-stage development
in endocrinology, oncology and infectious diseases. Cetrorelix (Cetrotide(R)) is
sold in the U.S. and Europe to the IN VITRO fertilization market, and is in
Phase II clinical trials for endometriosis, uterus myoma and enlarged prostate
(BPH). Miltefosine (Impavido(R)) is sold for black fever and has successfully
completed a Phase III trial in parasitic skin disease. Neovastat(R) is in a
Phase III trial for non-small cell lung cancer. Several other clinical programs
are underway with various potential development candidates, supported by a
worldwide network of scientific and marketing partnerships. Furthermore, AEterna
benefits from a discovery platform of 100,000 molecules which is generating
promising new compounds.

In addition, AEterna owns 62% of Atrium Biotechnologies Inc. which develops and
markets active ingredients and specialty chemicals in the health and personal
care industry for the cosmetics, pharmaceutical, chemical and nutritional
sectors. In 2002, sales reached $100 million.

News releases and additional information are available at www.aeterna.com.

FORWARD-LOOKING STATEMENTS

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Contacts:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Jacques Raymond
(418) 652-8525 ext. 406 (418) 652-8525 ext. 360
paul.burroughs@aeterna.com jacques.raymond@aeterna.com

U.S. INVESTOR RELATIONS EUROPE AND PRODUCT INFORMATION
Lippert/Heilshorn & Associates Zentaris GmbH
Kim Golodetz Dr.Mathias Pietras
(212) 838-3777 + 49 69 42 60 23 423
kgolodetz@lhai.com mathias.pietras@zentaris.de
Bruce Voss www.zentaris.com
(310) 691-7100
bvoss@lhai.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA SELECTED TO PRESENT AT
BIO CEO & INVESTOR CONFERENCE

QUEBEC CITY, QUEBEC, FEBRUARY 17, 2004 - Gilles Gagnon, President and Chief
Executive Officer at AEterna Laboratories Inc. (TSX: AEL; Nasdaq: AELA) will be
presenting AEterna-Zentaris' extensive product pipeline at the BIO CEO &
Investor Conference on Wednesday, February 25, 2004, at 2:30 PM (ET) at the Park
Ave Suite North, Waldorf Astoria Hotel in New York.

A live webcast of the presentation will be available on the Company's website at
www.aeterna.com. A webcast replay of this event will be available for a period
of 90 days at the same address.

AEterna Laboratories and its subsidiary Zentaris GmbH is a biopharmaceutical
company with an extensive portfolio of marketed and development-stage products
in oncology, endocrinology and infectious diseases.

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CONTACTS:

AETERNA LABORATORIES U.S. INVESTOR RELATIONS
MEDIA RELATIONS Lippert/Heilshorn & Associates
Paul Burroughs Kim Golodetz
(418) 652-8525 ext. 406 (212) 838-3777
paul.burroughs@aeterna.com kgolodetz@lahai.com

INVESTOR RELATIONS Bruce Voss
Jacques Raymond (310) 691-7100
(418) 652-8525 ext. 360 bvoss@lhai.com

Cell. : (514) 703-5654
jacques.raymond@aeterna.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA LABORATORIES ANNOUNCES FOURTH QUARTER AND 2003
FINANCIAL RESULTS CONFERENCE CALL AND WEBCASt

QUEBEC CITY, CANADA, FEBRUARY 20, 2004 - AEterna Laboratories Inc. (TSX: AEL;
Nasdaq: AELA) announced that its quarterly conference call and webcast have been
scheduled for Friday, February 27, 2004 at 10:00 a.m. Eastern time. The call
will follow the press release of AEterna's fourth quarter and 2003 financial
results issued earlier on the same day. Participants may access the live webcast
via AEterna's website at www.aeterna.com or by telephone by using the following
numbers: 416-640-4127, 514-807-8791 or 1-800-814-4890.

A replay of the webcast will also be available on AEterna's website from
February 27 through March 27, 2004.

AEterna Laboratories and its subsidiary Zentaris is a biopharmaceutical company
with an extensive portfolio of marketed and development-stage products in
oncology, endocrinology and infectious diseases.

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CONTACTS:

AETERNA LABORATORIES U.S. INVESTOR RELATIONs
MEDIA RELATIONS Lippert/Heilshorn & Associates
Paul Burroughs Kim Golodetz
(418) 652-8525 ext. 406 (212) 838-3777
paul.burroughs@aeterna.com kgolodetz@lahai.com

INVESTOR RELATIONS Bruce Voss
Jacques Raymond 310 691-7100
(418) 652-8525 ext. 360 bvoss@lhai.com
jacques.raymond@aeterna.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA LABORATORIES REPORTS 2003 FOURTH QUARTER
AND FULL YEAR FINANCIAL RESULTS

ALL AMOUNTS ARE IN CANADIAN DOLLARS

QUEBEC CITY, CANADA, FEBRUARY 27, 2004 - AEterna Laboratories Inc. (TSX: AEL;
Nasdaq: AELA) today reported financial results for the three and 12 months ended
December 31, 2003.

Consolidated revenues of $48.9 million for the 2003 fourth quarter represent an
increase of 75% compared with $28.0 million for the 2002 fourth quarter, owing
to increased sales of branded pharmaceutical products, growing partnership
revenues and acquisitions made by the Company's subsidiary, Atrium
Biotechnologies. Research and development costs for the fourth quarter of 2003
reached $12.5 million, up from $7.1 million during the comparable period last
year. This increase is primarily associated with investments in developing the
Zentaris GmbH extensive product pipeline, which includes Perifosine, a novel
orally-active AKT inhibitor in multiple Phase II trials for the treatment of
cancer, and Cetrorelix, an LHRH antagonist in three Phase II trials for
endometriosis, uterus myoma and benign prostate hyperplasia.

The Company reported a fourth quarter 2003 operating loss of $6.7 million,
compared with an operating loss of $6.6 million for the same period in 2002. The
net loss was $9.5 million, or $0.21 per share, in the 2003 fourth quarter,
compared with a net loss of $8.0 million, or $0.20 per share, for the comparable
period in 2002. The increase in net loss was mainly due to amortization of
intangible assets, to non-cash interest expenditure and to a one-time $1.9
million expenditure related to the year-end restructuring.

Cash, cash equivalents and short-term investments were $64.4 million on December
31, 2003.

ATRIUM CONSOLIDATED FOURTH QUARTER RESULTS

During the fourth quarter of 2003, sales of AEterna's 62%-owned subsidiary,
Atrium Biotechnologies, reached $37.5 million, compared with $27.7 million for
the comparable period in 2002, representing a 35% increase. Operating income was
$3.8 million during the quarter, compared with operating income of $3.1 million
for the same quarter in 2002, a 21% increase. Net income increased 16% to $1.8
million, compared with net income of $1.6 million for the same period a year
earlier. This growth in net income is mainly due to the acquisition of
Chimiray/Interchemical in August 2003, and to the higher gross margins generated
by product sales mix.

"For the year just ended, we are particularly proud of the successful
integration of Zentaris, which provides us with two established and growing
pharmaceutical products, Cetrotide(R) and Impavido(R), as well as a deep and
balanced pipeline of 14 development-stage products in

oncology, endocrinology and infectious diseases. With the Zentaris integration,
we are now involved in some 20 clinical studies, with significant support from
several partners," said Gilles Gagnon, President and Chief Executive Officer at
AEterna. "Among our 2003 achievements, Impavido(R) was launched for the
treatment of visceral leishmaniasis (black fever) and also generated positive
Phase III trial results for the treatment of cutaneous leishmaniasis, a severe
parasitic skin disease. Furthermore, we extended our agreement with Serono for
the marketing of Cetrotide(R) foR IN VITro fertilization, providing us with
long-term revenues, and recently signed partnership agreements with Roche for
Impavido(R) and Solvay for an orally-active LHRH peptidomimetic. The year was
also marked by the strong growth in sales and net income of Atrium
Biotechnologies, which acquired two more companies in the latter part of 2003.
Considering the scope of our strategic product portfolio, the strength of our
international network of partners, our recent corporate restructuring and the
realignment of our development program, as well as the financial contribution
from Zentaris and Atrium, the Company is well positioned for further growth in
2004," Gilles Gagnon added.

"During 2004, we expect continued increases in our consolidated revenues while
investing more than $30 million in R&D to fuel our growth. Furthermore, with the
strong contribution from Zentaris and Atrium, we are looking to become cash flow
positive in 2004, while working toward profitability. We have more than $64
million in cash, cash equivalents and short-term investments to fund our global
strategy," noted Dennis Turpin, Vice President and Chief Financial Officer at
AEterna.

AETERNA CONSOLIDATED ANNUAL RESULTS

Consolidated revenues for the 12 months ended December 31, 2003 increased 64% to
$166.4 million, compared with $101.2 million for the same period in 2002. The
Company reported an operating loss of $14.3 million in 2003, down sharply from
an operating loss of $20.6 million in 2002, despite the fact that R&D
investments increased to $44.1 million from $24.1 million. The 2003 net loss was
$28.1 million, or $0.65 per share, compared with a net loss of $25.8 million, or
$0.67 per share, in 2002.

ATRIUM CONSOLIDATED ANNUAL RESULTS

For the 12 months ended December 31, 2003, Atrium sales reached $120.3 million,
compared with $100.9 million for the same period in 2002, representing a 19%
increase. Operating income increased 17% to $14.4 million in 2003, from $12.3
million in 2002. Despite a foreign exchange loss of $1.4 million, Atrium
recorded net earnings of $7.1 million in 2003, an increase of 6.25%, compared
with net earnings of $6.6 million in 2002.

2003 HIGHLIGHTS

o EXTENDED AGREEMENT WITH SERONO UNTIL 2010 FOR CETROTIDE(R)
(CETRORELIX), a novel marketed compound used for IN VITRO
fertilization. The amended agreement provides for AEterna to receive
a signature fee, as well as fixed annual payments until 2010.

o ALONG WITH GERMAN REMEDIES, BEGAN MARKETING IMPAVIDO(R) (MILTEFOSINE)
IN INDIA, an oral treatment for visceral leishmaniasis (black fever),
and announced positive Phase III results in the treatment of
cutaneous leishmaniasis (parasitic skin disease).

o PHASE III TRIAL RESULTS WITH NEOVASTAT(R) in renal cell carcinoma did
not reach the study's primary endpoint. While we have stopped
development of Neovastat(R) in this indication, we are continuing
with a U.S. NCI-sponsored Neovastat(R) Phase III trial in non-small
cell lung cancer.

o CLOSED A $35.6 MILLION BOUGHT DEAL FINANCING.

o ATRIUM ACQUIRED CHIMIRAY/INTERCHEMICAL AND SIRICIE S.A. in Europe for
over $20 million.

CONFERENCE CALL INFORMATION

Management will be hosting an investment community conference call today,
Friday, February 27, beginning at 10:00 a.m. (Eastern Time), to discuss fourth
quarter and annual results.

To participate in the live call by telephone, please dial 514-807-8791,
416-640-4127 or 800-814-4890. Individuals interested in listening to the
conference call via the Internet may do so by visiting www.aeterna.com. A replay
will be available on the Company's Web site for 30 days.

ABOUT AETERNA LABORATORIES

AEterna Laboratories Inc. along with its wholly-owned subsidiary Zentaris GmbH,
is a biopharmaceutical company with an extensive product portfolio, including
two marketed products and several other product candidates under development in
oncology, endocrinology and infectious diseases. Cetrotide(R) (Cetrorelix) is
sold in the U.S., Europe and several other countries to the IN VITRO
fertilization market, and is in Phase II clinical trials for endometriosis,
uterus myoma and enlarged prostate (BPH). Impavido(R) (Miltefosine) is sold for
black fever and has successfully completed a Phase III trial in parasitic skin
disease. Neovastat(R) is in a Phase III trial for non-small cell lung cancer.
Perifosine, the first orally-active AKT inhibitor, is in Phase II trials for
multiple cancers. Several other clinical programs are underway with various
potential development candidates, supported by a worldwide network of scientific
and marketing partnerships. Furthermore, AEterna benefits from a discovery
platform of 100,000 molecules, which is generating promising new compounds.

In addition, AEterna owns 62% of Atrium Biotechnologies Inc., which develops and
markets active ingredients and specialty chemicals in the health and personal
care industry for the cosmetics, pharmaceutical, chemical and nutritional
sectors. In 2003, Atrium sales reached $120 million.

FORWARD-LOOKING STATEMENTS

-30-
CONTACTS:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Jacques Raymond
(418) 652-8525 ext. 406 (418) 652-8525 ext. 360
(418) 573-8982 cell. (514) 703-5654 cell.
paul.burroughs@aeterna.com jacques.raymond@aeterna.com

U.S. INVESTOR RELATIONS
Lippert/Heilshorn & Associates
Kim Golodetz
(212) 838-3777
kgolodetz@lhai.com
Bruce Voss
(310) 691-7100
bvoss@lhai.com

Attachment: Financial summary

AETERNA LABORATORIES INC. (TSX: AEL ; NASDAQ: AELA)
FINANCIAL SUMMARY
(in thousands of Canadian dollars, except share and
per share data)

QUARTERS ENDED TWELVE MONTHS ENDED
DECEMBER 31 DECEMBER 31
------------------------------------------------------------------------
CONSOLIDATED RESULTS 2003 2002 2003 2002
Unaudited $ $ $ $
-------------------------------------------------------------------------------------------------------------------------------

REVENUES 48,896 28,008 166,413 101,204
------------------------------------------------------------------------
OPERATING EXPENSES
Cost of sales 30,892 21,093 98,048 77,443
General, selling and administrative 9,664 5,704 29,103 17,777
R&D costs, net of tax credits and grants 12,456 7,071 44,124 24,129
Depreciation and amortization 2,568 742 9,421 2,421
------------------------------------------------------------------------
55,580 34,610 180,696 121,770
------------------------------------------------------------------------
Operating Loss (6,684) (6,602) (14,283) (20,566)
Interest income 486 1,067 2,146 3,079
Interest and financial expenses (1,348) (184) (4,835) (508)
Foreign exchange loss (310) (12) (1,574) ( 195)
------------------------------------------------------------------------
LOSS BEFORE THE FOLLOWING ITEMS (7,856) (5,731) (18,546) (18,190)
Current income taxes (307) (792) (3,859) (2,565)
Future income taxes (372) (547) (2,073) (1,860)
Gain (loss) on dilution - - (64) 424
Non-controlling interest (969) (940) (3,605) (3,591)
------------------------------------------------------------------------
NET LOSS FOR THE PERIOD (9,504) (8,010) (28,147) (25,782)
------------------------------------------------------------------------

Basic and diluted net loss per share (0.21) (0.20) (0.65) (0.67)
------------------------------------------------------------------------

Weighted average number of shares 45,330,992 40,582,591 42,993,432 38,584,537
Issued and outstanding shares 45,330,992 40,689,027

DECEMBER 31 DECEMBER 31
------------------------------------
CONSOLIDATED BALANCE SHEETS 2003 2002
$ $
-------------------------------------------------------------------------------------------------------------------------------

Cash and short-term investments 64,367 81,534
Other current assets 70,278 94,898
------------------------------------
134,645 176,432
Long-term assets 161,134 154,536
------------------------------------
------------------------------------
Total assets 330,968
295,779
------------------------------------
------------------------------------
Current liabilities 61,442 132,232
Deferred revenues 10,563 12,438
Long-term debt and convertible loans 35,052 9,969
Other long-term liabilities 32,649 41,317
Non-controlling interest 29,952 24,676
------------------------------------
169,658 220,632
Shareholders' equity 126,121 110,336
------------------------------------
------------------------------------
Total liabilities and shareholders' equity 295,779 330,968
------------------------------------
------------------------------------

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA SUBSIDIARY ATRIUM BIOTECHNOLOGIES ACQUIRES
PURE ENCAPSULATIONS FOR $50 MILLION IN CASH

U.S. nutritional supplements company
posted 2003 sales exceeding $25 million

ALL AMOUNTS ARE IN CANADIAN DOLLARS

QUEBEC CITY, CANADA, MARCH 3, 2004 - AEterna Laboratories Inc. (TSX: AEL;
Nasdaq: AELA) today announced that its 62%-owned subsidiary, Atrium
Biotechnologies Inc., has completed the acquisition of Pure Encapsulations Inc.
(Pure) for approximately $50 million in cash. Based in the Boston area, Pure is
a privately-held company focused mainly on the development, manufacturing and
marketing of nutritional supplements for physicians and other healthcare
professionals. With sales exceeding $25 million in 2003, Pure is among the
leaders in this growing specialized sector which generates annual sales of over
$1 billion in the United States.

"The acquisition of Pure Encapsulations allows us to increase the scope of our
activities in the United States by gaining access to a network of more than
36,000 physicians and other healthcare professionals while adding more than 270
quality products to our portfolio of nutritional supplements," said Luc Dupont,
Chief Executive Officer at Atrium Biotechnologies. "During the last few years,
we have dedicated our resources to the successful development of a vast
marketing network in more than 20 countries, particularly in Europe where we are
well positioned. The acquisition of Pure in the U.S. is a key step in our growth
strategy aimed at positioning Atrium among the international leaders in its
field."

According to Gilles Gagnon, President and Chief Executive Officer at AEterna,
"This strategic acquisition will support Atrium in establishing a critical mass
and in substantially increasing its sales in the U.S. Furthermore, it will
greatly contribute in attaining AEterna's global growth objectives, and support
its goal to be cash flow positive in 2004 while working toward profitability."

Atrium financed the acquisition through a credit facility of $27 million
provided by Royal Bank of Canada, a subordinated loan of $13.4 million by
Solidarity Fund QFL., and a subordinated loan of $6.7 million by AEterna. The
balance was paid through available cash. Atrium will pursue Pure Encapsulations'
operations from its current facilities in the Boston area.

ABOUT PURE ENCAPSULATIONS INC. (www.purecaps.com)

Founded in 1991, Pure Encapsulations Inc., located in the Boston area,
focuses on the development, manufacturing and marketing of products in the
nutritional supplements sector. Its more than 270 unique and innovative
products are available through a network of more than 36,000 physicians and
other healthcare professionals. Pure is recognized by industry

observers as a leader at the scientific level, through the high-quality
standards of its products, as well as at the customer service level. In 2003,
Pure Encapsulations' sales reached $25 million.

ABOUT ATRIUM BIOTECHNOLOGIES INC.

Atrium, a subsidiary of AEterna Laboratories Inc., develops and markets active
ingredients and speciality fine chemicals in the health and personal care
industry for the cosmetics, chemical, pharmaceutical and nutritional industries.
Its international business network and portfolio of 800 products sold to over
2,000 institutional customers including Estee Lauder, L'Oreal, Clarins, Chanel,
Aventis, SanofiSynthelabo and Nestle have generated significant growth in sales
and earnings since the Company was founded in January 2000. Following the
acquisition of Pure Encapsulations Inc., Atrium has recently added 270 products
to its portfolio and more than 36,000 physicians and other healthcare
professionals to its business network. In 2003, Atrium sales exceeded $120
million.

Atrium and its subsidiaries have 150 employees in Canada, the United States and
in Europe.

ABOUT AETERNA LABORATORIES

AEterna Laboratories Inc. along with its wholly-owned subsidiary Zentaris GmbH,
is a biopharmaceutical company with an extensive product portfolio, including
two marketed products and several other product candidates under development in
oncology, endocrinology and infectious diseases. Cetrorelix (Cetrotide(R)) is
sold in the U.S., Europe and several other countries to thE IN VITro
fertilization market, and is in Phase II clinical trials for endometriosis,
uterus myoma and enlarged prostate (BPH). Miltefosine (Impavido(R)) is sold for
black fever and has successfully completed a Phase III trial in parasitic skin
disease. Neovastat(R) is in a Phase III trial for non-small cell lung cancer.
Perifosine, the first orally-active AKT inhibitor, is in Phase II trials for
multiple cancers. Several other clinical programs are underway with various
potential development candidates, supported by a worldwide network of scientific
and marketing partnerships. Furthermore, AEterna benefits from a discovery
platform of 100,000 molecules, which is generating promising new compounds.

AEterna also owns 62% of its subsidiary Atrium Biotechnologies Inc.

FORWARD-LOOKING STATEMENTS

-30-

CONTACTS:

AETERNA LABORATORIES
MEDIA RELATIONS INVESTOR RELATIONS
Paul Burroughs Ginette Vallieres
(418) 652-8525 ext. 406 (418) 652-8525 ext. 265
(418) 573-8982 cell. Ginette.vallieres@aeterna.com
paul.burroughs@aeterna.com

U.S. INVESTOR RELATIONS
Lippert/Heilshorn & Associates
Kim Golodetz
(212) 838-3777
kgolodetz@lhai.com
Bruce Voss
(310) 691-7100
bvoss@lhai.com

[AETERNA LOGO]

PRESS RELEASE
FOR IMMEDIATE RELEASE

AETERNA EXPANDS PIPELINE AS ZENTARIS SUBSIDIARY
ESTABLISHES NEW RESEARCH COLLABORATIONS WITH
UNIVERSITY LABORATORIES IN FRANCE, GERMANY
AND ITALY

New early-stage compounds to be developed
for the potential treatment of obesity and cancer

QUEBEC CITY, QUEBEC, MARCH 11, 2004 - Gilles Gagnon, President and Chief
Executive Officer at AEterna Laboratories Inc. (TSX: AEL; Nasdaq: AELA),
presented the Company's extensive product pipeline in oncology, endocrinology
and infectious diseases at the Bio Square 2004 Conference today in Basel,
Switzerland. The presentation included a discussion of the recent addition to
its portfolio of ghrelin antagonist compounds that could be promising agents for
the management of obesity, as well as the addition of new targets as potential
novel anticancer agents. Development of these compounds will be conducted in
collaboration with university laboratories in France, Germany and Italy through
AEterna's subsidiary, Zentaris GmbH.

GHRELIN ANTAGONISTS

Ghrelin is a natural peptide hormone produced by the stomach that increases
appetite and induces accumulation of fat tissue. The recent discovery of ghrelin
and its receptors opens up new opportunities for the treatment of obesity and
eating disorders through the use of ghrelin antagonists to suppress appetite.

Zentaris has recently signed two agreements for the development of ghrelin
antagonists with the Laboratory of Aminoacids, Peptides and Proteins of the
University of Montpellier, France, directed by Prof. Jean Martinez, and with the
Department of Experimental and Environmental Medicine of the University of
Milan, Italy, directed by Prof. Vittorio Locatelli. Research projects are
targeting the chemical synthesis and pharmacological investigation of new
compounds acting as ghrelin antagonists. The design, synthesis and IN VITRO
screening of new chemical entities with ghrelin antagonist properties will be
undertaken by Prof. Martinez's group in Montpellier building upon the
significant experience of this laboratory in the preparation of analogues of
peptide molecules. This will be followed by a pharmacological investigation of
the most promising compounds by Prof. Locatelli's group in Milan, who has
developed experimental models for the study of eating behavior.

NEW TARGETS AS POTENTIAL NOVEL ANTICANCER AGENTS

According to an agreement signed in the field of oncology with the Institute for
Molecular Biotechnology of Jena, Department of Molecular Cytology, directed by
Prof. Eberhard Unger, and the research group of Dr. Helge Prinz at the
University of Munster, both in Germany, Zentaris gains access to specific
university know-how and screening technologies in the field of proteins of the
cytoskeleton. The new substances, available either by the collaborators or
synthesised by Zentaris, will be investigated for their ability to interact with
mitotic and motor proteins, including the kinesin family. Kinesins are
attractive novel targets to design antitumor agents with a new mode of action to
overcome the resistance associated with the classical tubulin binders.

Under these agreements Zentaris will support the research expenditure of the
university laboratories and retain exclusive rights for the worldwide
exploitation of results generated during the collaborations.

"Zentaris has a proven track-record in exploiting such research collaborations
with university laboratories, in addition to the work of its internal Drug
Discovery unit as a source of innovative development projects," said Dr. Jurgen
Engel, Chairman and Managing Director of Zentaris GmbH, Executive Vice
President, Global Research & Development, and Chief Operating Officer of AEterna
Laboratories Inc.

"These agreements represent an additional step in building a strategic portfolio
in endocrinology and oncology, two fields encompassing numerous unmet medical
needs," concluded Mr. Gagnon.

ABOUT THE OBESITY MARKET

It is estimated that 34 million to 61 million Americans are obese, and the
worldwide incidence of obesity is increasing by an estimated 1% per year. The
global obesity market is expected to reach $1.4 billion by 2008, with annual
growth of 12.5%. There is no safe and effective appetite suppressant currently
on the market.

ABOUT AETERNA LABORATORIES

AEterna Laboratories Inc. along with its wholly-owned subsidiary Zentaris GmbH,
is a biopharmaceutical company with an extensive product portfolio, including
two marketed products and 14 other product candidates under development in
oncology, endocrinology and infectious diseases. Cetrorelix (Cetrotide(R)) is
sold in the U.S., Europe and several other countries to the IN VITRO
fertilization market, and is in Phase II clinical trials for endometriosis,
uterus myoma and enlarged prostate (BPH). Miltefosine (Impavido(R)) is sold for
black fever and has successfully completed a Phase III trial in parasitic skin
disease. Neovastat(R) is in a Phase III trial for non-small cell lung cancer.
Perifosine, the first orally-active AKT inhibitor, is in Phase II trials for
multiple cancers. Several other clinical programs are underway with various
potential development candidates, supported by a worldwide network of scientific
and marketing partnerships. Furthermore, AEterna benefits from a discovery
platform of 100,000 molecules, which is generating promising new compounds.

AEterna also owns 62% of its subsidiary Atrium Biotechnologies Inc. which
develops and markets active ingredients and speciality fine chemicals in the
health and personal care industry for the cosmetics, chemical, pharmaceutical
and nutritional industries. Its international business network

and portfolio of over 1,000 products sold to over 2,000 institutional customers
and to over 36,000 physicians and other health care professionals, have
generated significant growth in sales and earnings since the Company was founded
in January 2000. In 2003, Atrium sales exceeded $120 million.

FORWARD-LOOKING STATEMENTS

-30-

CONTACTS:

INVESTOR RELATIONS Bruce Voss
Jacques Raymond (310) 691-7100
(418) 652-8525 ext. 360 bvoss@lhai.com
Cell. : (514) 703-5654
jacques.raymond@aeterna.com

SIGNATURE
---------

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: MARCH 18, 2004 By: /s/MARIO PARADIS
--------------------- ---------------------------------------------------
Mario Paradis
Senior Director, Finance and Corporate Secretary