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Stock soars after Cold-fX wins crucial approval7 E. z. K7 x! O
0 x& ^! \& E' u0 u. D. w; F& D! tEDMONTON - CV Technologies Inc. shares rose nearly 60 per cent Thursday after Health Canada approved the claims at the core of the company's marketing of its cold and flu drug Cold-fX.1 Z/ t+ K- a1 p4 x c/ W; O1 L
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BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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& ~2 x* ~8 _; @8 u, Z+ ~0 T" |EDMONTON - CV Technologies Inc. SHARES rose nearly 60 per cent Thursday after Health Canada approved the claims at the core of the company's marketing of its cold and flu drug Cold-fX.4 W+ t! [* [3 n- X. V1 K
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The agency said CV Technologies can continue to market Cold-fX as helping "to reduce the frequency, severity and duration of cold and flu symptoms by boosting the IMMUNE SYSTEM."' x0 F, w6 V9 \" C1 D
; W+ i; e% l4 s" ?6 ~0 RThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.
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7 d8 q7 \4 [ d8 t* VIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.
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, c# `3 W# F% m% W3 H2 m5 r+ c; A* lIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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5 M0 k$ ~ B+ i5 ["As a scientist, it's one of the highlights of my CAREER," Shan said.
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"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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It's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.( ~ _ D" A) Y0 F; k5 O. b# v
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Ginseng-based Cold-fX is already the top-selling cold and flu treatment in Canada, but Shan said there is plenty of room for more growth.$ N" o" r9 I4 {3 A2 \
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The approval will also help raise the product's PROFILE in the lucrative U.S. market, which Cold-fX entered in October. The move came with a new marketing push, using former Oilers superstar Mark Messier as its spokesman.0 K) o$ @! _) s8 Q( v* C
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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