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Stock soars after Cold-fX wins crucial approval4 N. l( y( Y2 R6 W; ]
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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.5 d/ A% l. x7 v- t* i7 ?! }
# v' N9 O1 D, B' MBY 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.
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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."7 u& N. Y/ Z1 W. }" T$ `7 X. Y& `! h& N
2 P% S- c6 e" d/ K! AThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.. m4 [5 c% P0 |) ?; U: r
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It should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.; s% x( _7 h: X2 o" i8 B
! h X: G* i" S; r TIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said." b5 @' T2 D2 d$ v9 H. [
, G5 N/ |) `$ x"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."2 G: d, i9 ]% T* W
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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.. t0 y8 t3 H/ k5 n
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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./ f( J. K6 ?' s: D* L' c) @0 m6 s# q
" G! j6 I2 C) bThe 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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5 s4 y, @; ~! Y& `1 ^# s( Shttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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