The government’s legal action a ban on one of the famous supplement Prevagen that is a part of memory loss dietary advertise or promoted to seniors by saying that no evidence has been found against the supplement and there are no proofs to bear the allegation of government.
On Monday, 9 January 2017, Attorney General of New York Eric Schneidermanand and the Federal Trade Commission (FTC) reported against Israel’s leading international marketing group for medical devices and diagnostic product, Madison, Prevagen (PREH’ vuh jehn) on 9 January, Monday.
The advertisement of Prevangen was sold at bigger retailers, the supplement carried tags of ‘clinically shown’, ‘clearer thinking’ and improve memory within ninety days. The Prevagen, memory loss dietary supplement is highly advertised by many commercial including CNN, Fox News, and NBC, that commercial advertisement claim that such supplement (Prevangen) improve the brain memory in 90 days.
According to the Federal Trade Commission (FTC), these claims are misleading the people.
The director of Bureau of consumer Protection of FTC Jessica Rich said, “The marketers of Prevagen preyed on the fears of older consumers experiencing age-related memory loss,” Jessica added, “But one critical thing these marketers forgot is that their claims need to be backed up by real scientific evidence.”
The marketing company of Quincy Bioscience, Prevagen denied all the allegations in a statement released on Monday, 9 January 2017. The statement said, “We vehemently disagree with these allegations made by only two FTC commissioners.” “This case is another example of government overreach and regulators extinguishing innovation by imposing arbitrary new rules on small businesses like ours.”
In 2016 the FTC issued the study name as Madison Memory Study which was sponsored by Quincy Bioscience. The FTC reported that the advantages of drug supported in a wrong manner.
According to the statement released by marketing company of the supplement, “The sole dispute rests on the interpretation and analysis of the data, with the regulators attempting to hold the company to a standard that is unreasonable, scientifically debatable, and legally invalid.” “Their experts simply disagree with ours over how to interpret the study results. The FTC should not be the arbiter in matters of scientific debate.”
The cost of the Prevagen supplement monthly supply is between 24 dollars to 68 dollars, the memory boosting supplement is sold at different retailers like Amazon, Walgreens, Vitamin Shoppe and CVS.
The government’s lawsuit seeks repayment for the consumer of Prevagen.