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Stock soars after Cold-fX wins crucial approval
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+ D4 n6 l: R5 G* Q& }% 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.
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: P C" S" a! i8 k* R! K; N1 I& RBY 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., i& e+ r; r* g" S- l; {
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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." B8 f* U; K- p1 A9 @. W1 i6 ?5 O" B
$ e7 N. s. Q+ H0 J" j. bThe 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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+ L/ F+ B8 V- q3 ^' F6 U! x"As a scientist, it's one of the highlights of my CAREER," Shan said.
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" D- l, n: _) J# F8 d"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."* `( A# i) ]! S3 ]; r9 b# m
2 O& M7 r' E; JIt'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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q2 B S& \/ \* mGinseng-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. l/ i7 {" u# n0 L
$ X" E V; O7 q- M9 d) i( 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.
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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