A more complete version of the cssndrx answer, using slicing in numpy to improve speed:
import Image
import numpy
im = Image.open('myimage.png').convert('RGBA')
a = numpy.fromstring(im.tostring(), dtype=numpy.uint8)
alphaLayer = a[3::4] / 255.0
a[::4] *= alphaLayer
a[1::4] *= alphaLayer
a[2::4] *= alphaLayer
im = Image.fromstring("RGBA", im.size, a.tostring())
Et voila !