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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. n! E# W8 v% c) l
: M- ]( W7 r- M' g3 B2 wBY THE EDMONTON JOURNAL FEBRUARY 16, 2007/ x& L+ d( h$ z1 l
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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.* o6 M- p& y# Q) d
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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.". g& f7 \. r$ v3 {6 D
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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.3 Q8 u5 q' I. l0 I' x: y* }
8 @& s3 c8 I- P0 m9 aIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said.) l$ |+ r5 |+ f0 h. @
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"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."" c1 X5 u( K! S9 _$ u! k* `
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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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0 ?5 c, H6 O1 o, _* ]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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& Q+ g. _& C2 P+ q. o. o6 BThe 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.
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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