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Stock soars after Cold-fX wins crucial approval6 k! L% z. C/ z9 y! D+ ~
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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./ \- T4 C! u0 ~2 C1 E$ O
4 O* e9 ~( n2 f+ `5 a# m! `) QBY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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) S8 _. u' x+ hEDMONTON - 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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6 i2 Y2 \, M& d0 L, G- r- i; GThe 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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* Z9 ^2 Z- \# h4 K: X. L+ gThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.( Q# Q) {- V' i. ^" h$ y4 }* P
4 l# v6 E, r, A- DIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.
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" S/ A; g4 y% U1 K' A- j w+ VIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.) U7 k$ v: d% l5 E1 N5 h7 R" Q
; m% {6 N3 X# F: J"As a scientist, it's one of the highlights of my CAREER," Shan said.$ k5 { q# K3 D! x3 y8 t A9 |
5 n0 h& e' ~( B" m"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.% J( M+ a& {+ I- F# n& T# X
: L5 W4 g6 U# w0 A1 hGinseng-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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7 D7 H* T5 j5 b- z$ k6 x( h* E! E* f3 PThe 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.6 c4 `8 H, y# V" c
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' V3 T& o8 X4 p X5 C& O# shttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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