(RTTNews) -  Abbott Laboratories (ABT: News ) said the company and the patent owner, Laboratories Fournier S.A., entered into a license agreement with generic drug maker Teva Pharmaceuticals USA Inc. (TEVA: News ) granting Teva rights to intellectual property for cholestrol pill Tricor 145 mg no sooner than March 28, 2011.

Under certain defined circumstances, Teva may not receive rights to this intellectual property until July 1, 2012, Abbott said in a filing with the Securities and Exchange Commission.

The deal with Teva will end Abbott's legal dispute regarding the drug with Abbott.
ABT closed Monday's regular trade at $54.49, up $0.41 or 0.76%, on 7.05 million shares.

TEVA shares settled on Monday at $52.79, down $0.09 or 0.17%, on 4.41 million shares.

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by RTT Staff Writer

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