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Stock soars after Cold-fX wins crucial approval
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+ y5 J9 k5 p& @$ mEDMONTON - 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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3 G$ m1 l% [$ s+ C4 fEDMONTON - 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."' g: o* h7 ` P: Q d" o
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The APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.
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It 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 $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said. R4 X- F7 e: x5 n1 f5 a
~9 s. v4 ~! |: u4 P$ T& ]"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.6 }: p. @! q% P l$ c" l! Q
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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.( O6 \% k3 ~3 p3 q0 ]7 p
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6 J& Y9 p: ]: w/ S) S) h2 Phttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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