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Stock soars after Cold-fX wins crucial approval
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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.
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BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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; z7 |# b9 Q: ^: E; |, B8 s# ^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.
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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."
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5 f' C3 Z+ B( wThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.
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: I4 a; h9 d8 n v7 eIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.4 D& X3 i% |% M/ b: h' k, n+ u
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It 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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"As a scientist, it's one of the highlights of my CAREER," Shan said.
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, K8 n7 k4 ^% }4 r2 G. U! [& a"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."# ?' H: ~/ _- L2 \
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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.
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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.
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8 g) S5 ~6 U. ^9 S+ NThe 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.' Q D* i3 r; b
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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