Government Lawsuit Against Madison Based Drug Company
Tuesday, January 10th, 2017 -- 8:02 AM
(AP) -A government lawsuit seeks to ban a popular memory-loss dietary supplement marketed to seniors, saying there's no scientific evidence to support its claims.New York Attorney General Eric Schneiderman and the Federal Trade Commission filed the lawsuit Monday against Madison, Wisconsin-based Quincy Bioscience, maker of Prevagen. It seeks a ban on further claims about Prevagen's effectiveness, refunds for consumers and civil penalties.
Prevagen is sold at major retailers and advertised as being "clinically shown" to support "clearer thinking" and to "improve memory within 90 days." Schneiderman said Quincy Bioscience based its claims primarily on a single study that failed to show a statistically significant improvement in memory. Quincy Bioscience issued a statement saying it "vehemently disagrees" with the allegations, calling the lawsuit an "example of government overreach and regulators extinguishing innovation."
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