UPDATE 1-Teva admits Gianvi label information was false: Bayer

* Teva to correct label information: Bayer

* Teva has provided FDA with corrected info

June 17 (Reuters) - Bayer (BAYGn.DE) said Teva's (TEVA.TA) U.S. unit admitted in a court proceeding on Wednesday that some of the information included on packages of its oral contraceptive Gianvi was false and agreed to correct its labeling.

Bayer said Gianvi, a generic version of Bayer's YAZ birth control pill sold in the United States, falsely claimed that it contained Bayer's technology that extended the shelf life of the drug.

Teva will inform U.S. pharmacists on a weekly basis for three months about the corrected physician prescribing information on the label, Bayer said in a statement.

Teva has already provided the U.S. Food and Drug Administration with the corrected information and has also corrected the labeling of the drug on its U.S. website, Bayer said.

Teva could not be immediately reached for a comment. (Reporting by Brenton Cordeiro in Bangalore; Editing by Anil D'Silva)