Federal court OKs $1.5B Abbott Labs settlement

ABINGDON, Va. -- A federal court in Virginia has approved a $1.5 billion settlement of a case involving Abbott Laboratories' promotion of the anti-seizure drug Depakote.

Virginia Attorney General Ken Cuccinelli says the settlement includes a criminal fine and forfeiture of $700 million, and settlements with the federal government and states totaling $800 million. Virginia will receive $4.2 million from the civil settlement.

Abbott pleaded guilty in May and agreed to pay $1.5 billion to resolve allegations that it promoted Depakote for uses that weren't approved by the Food and Drug Administration.

The settlement was approved Tuesday in U.S. District Court in Abington.