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Stock soars after Cold-fX wins crucial approval3 i- q* D3 V' V4 J
/ q. Q: X4 v' @' ]1 p+ y' CEDMONTON - 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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BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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0 D6 h: Z2 T8 g' r. D0 H/ EEDMONTON - 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.1 `; }* d% Z( J% R( j, [
6 j8 [( }' s& s6 s, r/ b, v, BThe 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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9 L! v5 E0 s: S6 _5 J7 ?The APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.( s G$ S: n- |' ]7 i# Y( y
6 z+ O* R! ~, y) y6 B# A$ mIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.
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1 T) M D0 L6 I6 f) t Y7 f( xIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million., V: j$ |1 n- m% j; R9 H- k3 ~
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"As a scientist, it's one of the highlights of my CAREER," Shan said." G: }7 ~/ [) w
( {+ P4 c* U6 ^4 @& p# ~( Q"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."; p7 b1 ~' z+ ]9 j& l
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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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- v2 P, w$ {/ h5 n3 z+ _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.8 |: Q& Y% _0 x" i$ q
$ V& j: W/ m; V2 j8 KThe 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.; ~0 H$ `: }* V! l1 j9 D, @6 S7 }
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/ w' j2 s( l9 \, B3 Ohttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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