After being dumped by Abbott, Emergent BioSolutions carries on (Morning Read)

Current medical news from today, including Emergent BioSciences rebounds after Abbott pulls the plug on cancer drug partnership, searching for a cure for the hangover, and Avastin stabilizes ovarian cancer tumors in studies.

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Emergent shares rise post-Abbott announcement. After being dumped by Abbott Labs (NYSE:ABT) , Emergent BioSolutions (NYSE:EBS) plans to forge ahead with bringing its TRU-016, an experimental drug against B-cell malignancies, to the market. That includes continuing Phase Ib and Phase II trials currently underway and are expected to deliver results in 2013.

Earlier this year, Abbott announced it was restructuring, and it appears that its partnership with Emergent didn’t fit with its remodeled pipeline. Abbott will still have to provide Emergent with transition assistance and make any milestone payments that are reached plus pay half of the collaboration costs. Shares of Emergent rose 4 percent on Thursday.

Still no cure for a hangover in sight. Breaking news is light on this last workday before New Year’s, so let’s talk about something you might be worrying about this weekend. Curing your hangover. Apparently, the last decade has brought us more than 60 hangover treatment products, from digestive cleansing juices to pain relievers to vitamins. And although it’s not a serious medical condition, there’s been more research dedicated to curing the hangover than you might think. But experts remain wary of these products, at least until we learn more about the anatomy of the hangover.

Studies support Avastin for ovarian cancer. Its effect on breast cancer might be controversial, but Avastin stabilized tumors in women with advanced cervical cancer in two separate studies just published in the New England Journal of Medicine. Last Friday, the European Commission approved the drug for ovarian cancer, but it’s not approved for that indication in the U.S.

Excel’s life science fund. Excel Venture Management is looking for $150 million for its second fund to invest in health IT, diagnostics and medical devices. The Boston company raised $125 million for its first fund in 2009.

Quirky interview questions for a job at a startup. Anyone who’s ever worked for a startup (disclosure: me) knows the business culture and the daily routine is strikingly different from the standard corporate job. And finding the right employees to fit this culture might take a little more effort. Glassdoor has released a list of 25 oddball interview questions, and Portfolio picked out a few quirky questions that might be particularly handy for hiring in startups.

FDA’s draft guidance up for comment. New draft guidelines for low-risk medical devices were released Wednesday and are open for public comment.