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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.: R/ i5 [. b6 z) U7 f ?) |0 f
9 ~+ x# ]0 o0 o" k4 p' a8 DBY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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, `# p: n. n! i( Y( REDMONTON - 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.5 W$ g8 \0 W x+ v; x
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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."+ [7 t& O* ^. v, k
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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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3 f, ]" r; I, E( C/ B0 o, a3 O3 W; BIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.) w5 `& b% w b: O
4 X* T+ O8 \" eIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.6 V3 Y9 L* G( J' Y& f: P& g
% [. e! ]' T% S: k"As a scientist, it's one of the highlights of my CAREER," Shan said.
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"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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It's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.
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0 s, B7 n7 b" o3 f4 RGinseng-based Cold-fX is already the top-selling cold and flu treatment in Canada, but Shan said there is plenty of room for more growth.
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4 h$ A5 p$ O8 Y4 _3 h; e0 ]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.% T! M2 e* |- W5 v% v
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- g( q+ Y3 m: f' yhttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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