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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.6 U! E$ x: Y% h% D. } K6 u
% t( A* _ m! @+ x1 ZBY 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.
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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."0 b0 x0 X2 m/ b* }' X; r
! H R( |7 Y* s( s+ n6 O* R7 wThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.: Y) E( p8 p* V4 y* @
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It should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.0 W* T! B, [9 O* |$ E F/ f( |
. M/ ~$ z9 K: j* K# i. ]) [" SIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said.
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+ [; f; `" J2 V' n3 X, h"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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It's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.. y+ C+ y8 l$ E0 V, i
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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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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.# I3 F; _# P: }. a% g
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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