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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.9 w" B2 F1 R5 j3 u% v: n: r
4 p1 c% d3 y: iBY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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b7 d, e T F h* h2 }# _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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0 c! |; E; b6 p+ F% o" |; V: Y- lThe 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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+ m: G6 `7 f* {) \. FThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.9 r7 O3 ^. F. a' V
" D Z# j M5 k5 AIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.
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It certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said.
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- u, Q \6 Q4 H& ~( p3 h6 {"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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It's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.! p* p0 K( s7 C
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Ginseng-based Cold-fX is already the top-selling cold and flu treatment in Canada, but Shan said there is plenty of room for more growth.% R" p. O0 I1 U. c' S
* t x. k7 e5 O) U9 X! g, m8 qThe approval will also help raise the product's PROFILE in the lucrative U.S. market, which Cold-fX entered in October. The move came with a new marketing push, using former Oilers superstar Mark Messier as its spokesman.7 ~, v d$ E* z
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* H7 Q: J1 `/ P. O5 ?+ ]0 q5 ~http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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