Report: Abbott, Teva reach deal over TriCor

NEW YORK A generic drug maker has agreed to postpone sales of its version of a branded cholesterol drug, according to published reports.

The Wall Street Journal reported Monday Teva will postpone the sale of a generic version of TriCor until March 28, 2011. TriCor is a blockbuster drug produced by Abbott Labs. 

Kelly Morrison, an Abbott spokeswoman, called the deal a "pure licensing agreement" and said the company wasn't paying Teva to delay selling a generic.

The settlement's terms were not disclosed.

TriCor is designed to lower "bad" cholesterol (referred to as LDL) and triglyceride levels.