J&J yanks Yondelis application; Seattle Genetics will get priority review for brentuximab;

 @FierceBiotech: Oncothyreon raises $40M for cancer work. News | Follow @FierceBiotech

 @JohnCFierce: Derek Lowe's blog spot is getting a lot of buzz about the Pfizer layoffs coming down. News | Follow @JohnCFierce

> Johnson & Johnson has yanked an application to market Zeltia's Yondelis in combination with its cancer drug Doxil for cases of ovarian cancer that go into remission. The withdrawal by a subsidiary of J&J follows the FDA's recommendation that Yondelis undergo an additional test ahead of approval. That's more bad news for Spain's Zeltia, which had its application for Yondelis rejected in Australia last fall. Zeltia, though, says it will push ahead with plans to unveil new data at the upcoming ASCO meeting. Story

> The FDA has given priority review status to Seattle Genetics's cancer drug brentuximab, which has been filed as a new treatment for relapsed or refractory Hodgkin lymphoma and relapsed or refractory systemic anaplastic large cell lymphoma. Seattle Genetics release

> Wilex inked a $19 million U.S. licensing pact with Prometheus Laboratories on Rencarex, a Phase III product candidate for adjuvant use in non-metastatic clear-cell renal cell cancer. Release

> Shares of Spectrum Pharmaceuticals were buoyed this morning as investors reacted to the news that the FDA had provided expanded approval to use Fusilev as a treatment for advanced colorectal cancer. Report

Pharma News

@FiercePharma: NEJM data shows Avastin as effective as Lucentis. Item | Follow @FiercePharma

> Krumholz questions Abbott blood-lipid drugs. News

> Pfizer partner Strides nabs FDA plant approval. Report

> Beleaguered Actelion faces $547M court judgment. Article

> Would Pfizer break-up leave a healthier core? Story

> Merck opts to grow consumer business, not sell it. Item

Biotech IT News

> New computational models help solve protein mysteries. Report

> Computer models aid fight against flu. Story

> How can IBM's Watson aid pharma researchers? Article

Medical Device News

> Report: Medtronic CEO to stay on until successor found. Story 

> Nobel Biocare Q1 profit dips, submits bid for Astra Tech. Report 

> Gen-Probe jumps on takeover speculation. News

> FDA looks to reduce exposure to improperly reprocessed devices. Item

> OrSense closes $18M in financing. Story

> Spring-Set Health Solutions gets 510(k) clearance for diabetes treatment. Article

> Brainsway to offer 1.8M shares. News 

And Finally... UCLA researchers report in the April issue of the journal Developmental Cell that they may have discovered the underlying mechanism that could convert other cell types into pancreatic beta cells, which could cure diabetes. Report