UPDATE 1-Rite Aid Germ Defense ads 'false'-US FTC

WASHINGTON, July 13 (Reuters) - Rite Aid Corp (RAD.N) will pay $500,000 to settle charges of deceptive advertising involving its Germ Defense medicines, which the drugstore chain had said would prevent and treat colds and the flu, the U.S. Federal Trade Commission said on Monday.

The FTC also settled with Improvita, which made the Germ Defense medicines for Rite Aid and other stores and also sold them on its website.

The settlement requires $500,000 to be paid in consumer refunds and requires that the advertising for the medicines be changed.

The Germ Defense tablets and lozenges were the store brand rivals to products from Airborne Health Inc, which settled deceptive advertising charges last year, the FTC said. (Reporting by Diane Bartz; Editing by Lisa Von Ahn)