GlaxoSmithKline (NYSE: GSK is awaiting the verdict in its law suit against Abbott Labs (NYSE: ABT) in which it is seeking $571 million.

Attorneys for the two companies presented closing arguments in the suit to a jury in California on Thursday. GSK alleges that Abbott inhibited competition for HIV drugs.

Also on Thursday, Abbott struck a settlement with several companies, including CVS and Rite Aid, in a related class action case. Terms of the settlement were not disclosed and are still subject to court approval.

For the Reuters report, read here.

For the Law 360 report about the Abbott settlements, read here.

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