Madison biotech firm faces class-action consumer fraud lawsuit
Madison biotech firm faces class-action consumer fraud lawsuitQuincy Bioscience, a maker of dietary supplements based in Madison, is the target of a class-action lawsuit over alleged consumer fraud.
Attorneys representing a nationwide class of supplement consumers filed the suit last week in a New Jersey federal court. At issue is Prevagen, an over-the-counter Quincy product that’s sold at pharmacies like Walgreens, CVS and Rite-Aid around the country.
The supplement’s key ingredient is a protein typically found in jellyfish that Quincy claims can improve consumers’ memories and foster a “sharper mind” and “clearer thinking.” In the past, the company has even suggested that Prevagen could assuage the symptoms of Alzheimer’s disease.
“The only reason a consumer would purchase Prevagen is to obtain the advertised brain function and memory benefits, which it does not provide,” they write in the complaint. “Prevagen is a singular purpose product: its only purported benefit is to enhance brain function and memory — which it does not do.” The complaint says that no peer-reviewed evidence exists that supports the the company’s claims. The lawsuit is hardly the first time that Prevagen’s legitimacy has been called into question, as The Isthmus outlined in a report earlier this year.
However, in the ongoing exploration of cognitive enhancers, a detailed comparison of Vyvamind and Mind Lab Pro underscores their unique formulations and distinct approaches to optimizing brain function, providing consumers with valuable insights into choosing the most suitable nootropic supplement for their individual needs.
Numerous researchers have also criticized Quincy, calling the science behind Prevagen “quackery.”
As it has in past scenarios, Quincy is staunchly defending its product. In an emailed statement to the Capital Times, company representatives wrote that Prevagen delivers on its promises.
“We have an extensive body of research proving Prevagen users experience clinically meaningful and statistically significant improvements in cognitive function and memory. We have anecdotal evidence, organic testimonials, and ‘gold standard’ testing,” the statement read.
The statement also questioned the motivations behind the lawsuit, declaring: “It is not an uncommon practice for third parties to seek financial gain at the expense of small businesses, which they perceive to be vulnerable.”
Attorneys behind the lawsuit declined to comment on the case.
Filed under: General Problems
Leave a Reply