UPDATE 1-Abbott settles lawsuit related to its cholesterol drugs

(Recasts; adds details, stock movement)

Nov 20 (Reuters) - Abbott Laboratories Inc (ABT.N) said it settled a lawsuit related to the sale of its cholesterol-lowering formulations and would pay about $184 million to resolve the claims.

Abbott shares fell as much as 5 percent in afternoon trade.

In a regulatory filing, Abbott said it plans to record the settlement payments as a specified item in the fourth quarter.

The company said it had also settled some other previously-disclosed lawsuits related to the cholesterol-lowering fenofibrate formulations.

Abbott shares were trading down $2.52 at $52 on the New York Stock Exchange. They touched a low of $51.57 earlier. (Reporting by Esha Dey in Bangalore; Editing by Himani Sarkar)