Quigley up 16 percent; Cold-Eeze product cuts antibiotic use

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Posted 2:34PM on Monday, March 25, 2002

NEW YORK - Natural health and homeopathic drug company Quigley Corp. shares soared to a 52-week high Monday after the company said a study showed patients who used its Cold-Eeze product used less antibiotics. The company said Monday that preliminary results from an independent clinical study "proved that there was a dramatic statistical reduction in the use of antibiotic prescriptions for upper respiratory problems when Cold-Eeze was taken." The final results of the study on Cold-Eeze should be "out in the near future," the company said. The company's zinc lozenges, sold under that brand name, have been shown to reduce the duration of the common cold. The three-year study, the company said, was conducted over "70,000 patient days on a student population ranging in age from 11 to 17 years." The company couldn't provide the number of patients involved in the study. Cold-Eeze brings in nearly all of Quigley's revenue, the company said. The Doylestown, Pa., company's sales totaled $24.67 million in 2001. Quigley shares traded Monday afternoon at $6.70, up 93 cents, or 16 percent, on the Nasdaq Stock Market. The previous 52-week high of $6.04 was set Friday.