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Stock soars after Cold-fX wins crucial approval# ?5 i* J) P W
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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. L5 C, c4 C( f) q3 _
; b8 H" q, f, r- @: qBY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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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.8 [% I+ I6 O6 H. z# V6 j! S% y
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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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1 y* z) k' p( F' T! ]' d7 {The APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.
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It should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.8 D# ^. A( E% i/ r
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It certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.& k# c: V( t6 t5 Y& ? m. ]+ o4 }
5 A# p1 f1 F5 h8 l"As a scientist, it's one of the highlights of my CAREER," Shan said.
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( w6 c; x3 g5 H( i- }+ i! f6 m"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."; E3 G" N& g Y3 s4 o. ^1 g, T
- ]' [( D. m! I$ A% B. f% ~" PIt'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. P) }- z) _1 k8 M
) g2 v: [+ \3 C& F: cGinseng-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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* R; O/ r, n6 [# D) E4 G9 iThe 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.$ s* r; s9 |) v8 C% l j. [
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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