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.

 A GlaxoSmithKline (NYSE:GSK) cancer drug program will be developed with a new companion diagnostic from Abbott (NYSE:ABT) as GSK moves to broaden its reach in personalized medicine.Abbott recently announced it would split into two companies, one focused on drugs and another focused on medical devices and diagnostics. Under the pact with GSK, Abbott’s medical device [...]

As Medtronic prepares to begin the first U.S. trial of a low-glucose suspense system, and as diabetes device companies, researchers and advocates look to the U.S. Food and Drug Administration for guidance, one thing is obvious: The United States is way behind in giving patients access to the Holy Grail of type 1 diabetes treatment, [...]

Current medical news from today, including Abbott Labs splits, European court says research that destroys human embryos can’t be patented, and questions about the Da Vinci surgery robot.

Abbott Vascular’s Ferolyn Powell talks about the company’s MitraClip technology, which is used to treat a common heart valve condition called mitral regurgitation.The MitraClip device is designed to reduce significant mitral regurgitation by clipping together the leaflets of the mitral valve, one of the four valves of the heart.Powell, vice president and general manager of [...]

Abbott (NYSE:ABT) enrolled its first patients in a Japanese trial of the Absorb bioresorbable vascular scaffold.The Absorb stent opens clogged blood vessels and provides support to restore blood flow, and dissolves within about two years.Since the stent dissolves rather than leaving behind a metal scaffold, the treated vessel may be able to regain [...]

Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) came out as the big players in the U.S. drug-eluting stent market, together staking claim to more than half of all DES revenues.In 2010, Boston Scientific reported $1.5 billion in DES sales and held a 33 percent market share in the U.S., led by its Taxus and [...]

There’s no pleasing some people. Abbott (NYSE:ABT) shares were down on Wall Street today, despite the health care products giant reporting strong second-quarter sales and earnings figures ’ including a nearly 100 percent top-line surge for its coronary stents business.The Abbott Park, Ill.-based conglomerate reported profits of $1.94 billion, or $1.23 per diluted share, on [...]

An unknown bandit made off with a trailer shipment of Abbot Laboratories’ (NYSE:ABT) blood glucose monitoring products, and the company is working with law enforcement officials to get it back.In the mean time, the company warned pharmacies and consumers against products with unusually low prices as an indication that they might be [...]

Abbott had solid earnings to report, but problems in the pharmaceuticals portion of its business are triggering job cuts. About 2 percent of the company’s global workforce will be let go. Its earnings–per-share expectations are also considered low.