A bitter pill for Cold-fX - Macleans.ca

A bitter pill for Cold-fX

Maker of ginseng-based remedy pays off angry investors over its dubious financial reporting


If you don’t have a cure, sometimes it’s best to treat the symptoms. So it was that Afexa Life Sciences Inc., the newly renamed company that makes Cold-fX, has agreed to pay $7 million to investors who filed a class-action suit over the firm’s botched launch of its product in the U.S. It’s the latest blow to Afexa (formerly CV Technologies), which has had a rough ride the past few years. The suit came after the company got in trouble for stating consignment deliveries to U.S. retailers as revenue. Last month, five senior officers of the company stepped down and were forced, under a settlement with the Alberta Securities Commission, to pay $740,000 in fines. Underlying all this is growing doubt about the company’s future, as data crunchers and clinical experts have questioned whether its ginseng-based products actually work. Could be a long winter for Afexa.

Edmonton Journal

Filed under:

A bitter pill for Cold-fX

  1. It would be a long winter without cold fx.I have been taking it for 8 years and have not had flu or even a cold.The real bonus for me is that my fibromyalsia is not near as painful and can only be contributed to this product.I was told my codition was serious and have tried everything but this product helps me the most.If you too suffer from this condition try it what do you have to lose? I thank God for Dr. Chan as my 80 yr old mother was very ill and got better when I gave her cold fx and didnt need to go to hospital so I am a true believer.God Bless and stay well!!!