Genta drug flunks Ph3 cancer study (again); Karo Bio CEO departs; 10% of cancer patients abandon prescriptions;

@FierceBiotech: ASCO highlights targeted cancer drugs from Pfizer, Exelixis. Report | Follow @FierceBiotech

@JohnCFierce: We've had quite a spate of approvals so far this year. Maybe I can wrap this year without another look at appalling productivity. | Follow @JohnCFierce

> Genta ($GNTA) says that its lead drug Genasense once again flunked a late-stage study. The treatment combined with chemo was little better than chemo alone for patients with advanced melanoma. "In view of these results, we will review the Company's pipeline portfolio and provide further guidance in the near future," says CEO Raymond Warrell. Genta shares dropped 65 percent - to 1.5 cents. Genta release

> Karo Bio announced that CEO Fredrik Lindgren is leaving the company. The board plans to name a new CEO tomorrow. Report

> A research team at Cambridge University in the UK say that an experimental obesity drug is demonstrating potential as a cancer treatment. By starving tumors they believe that the drug may go one more step toward making prostate cancer a manageable chronic disease. Report

> Par Pharmaceutical struck a deal to buy India's Edict Pharmaceuticals for up to $37.6 million. Story

Pharma News

@FiercePharma: Pharma bosses love iPads, but some reps are skeptical. News | Follow @FiercePharma

> FDA demands action at another Aurobindo facility. Item

>  Lilly scales back Irish plant once slated for growth. News

> With Incivek approval, hep C drug battle begins. Report

> Facebook: No more no comment for pharma. Story

Biotech IT News

> Clinipace Worldwide scoops up Swiss competitor. Report

> New software aids in discovery of cancer gene fusions. Item

> PRA International buys Kinship to boost eClinical software offerings. News

> NIH pumping $23M into data center and computer analyses of genomes. Report

> Algorithms mine articles to predict bad drug reactions. Story

Medical Device News

> Device groups sign global compliance pact. Story

> Panel: Investing in device start-ups has gotten riskier. Report

> FDA clears test for disease affecting military personnel. Article

> Novate Medical raises $12.4M investment. Piece

And Finally...With out-of-pocket costs on cancer meds growing a new study indicates that 10 percent of oncology prescriptions are not being filled by patients who often can't afford to pay their share. Report