Memory pill maker sued on grounds no proof it works

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By Diane Bartz

<span class="articleLocation”>Quincy Bioscience LLC, which makes the memory
supplement Prevagen, was hit with a lawsuit on Monday filed by
the Federal Trade Commission and New York attorney general’s
office, which alleged that there is no proof the supplement
works.

The medicine, which costs $24 to $68 for 30 pills, is
advertised on cable and broadcast television, according to the
FTC, which is seeking refunds for customers who bought Prevagen.

The lawsuit, which was filed in the U.S. District Court for
the Southern District of New York, said that Quincy Bioscience
had sold some $165 million worth of Prevagen between 2007 and
mid-2015, according to court filings.

The lawsuit says that Quincy Bioscience based much of its
advertising for Prevagen on a single study, called the Madison
Memory Study, which gave the drug or a placebo to 218 people and
then had them perform certain tasks on a computer.

“The Madison Memory Study failed to show a statistically
significant improvement in the treatment group over the placebo
group on any of the nine computerized cognitive tasks,” the
lawsuit said.

Quincy Bioscience said that it vehemently disagreed with the
complaint, which it called overreach. “Quincy Bioscience will
vigorously defend ourselves,” the company said in a statement
that called into question how the government analyzed data from
its study.

The two Democrats on the FTC voted to approve the complaint.
The single Republican did not participate and two of the five
commission seats are vacant.



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