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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.
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3 e+ ~( K: p, }, q( x! |BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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; O: z `' y+ S9 C+ s# \1 d ]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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' n9 p, c1 N2 p0 Z5 wThe 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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The APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product. Q8 D0 H! f" f p- C
/ W# P, y- T2 O9 @$ I( ?! y y) iIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.
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3 W* e8 O7 c" Q; D, x: YIt 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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' |0 T, M% e. ~; X U"As a scientist, it's one of the highlights of my CAREER," Shan said.
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" i* m# }- Q t4 D2 ]/ L"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."# M" x" E6 {; W7 K' G9 ~4 S
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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.0 P8 {2 K) J3 v( c2 N6 J5 C
" A7 e. x2 P8 P& @: A3 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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7 f/ E2 |9 U: LThe 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.
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1 M5 ~9 z/ h/ T) D% h3 U2 J, ^# d0 Y' chttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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