James HesterBayer, the German-listed pharmaceutical group, said it had failed to meet the objectives of clinical trials for its pneumonia drug Amikacin Inhale.
Shares were down by around 0.5% in early trading on Friday.
Amikacin Inhale disappointed expectations and did not exhibit superiority over a placebo in phase 3 clinical trials. The drug failed to meet both the primary and secondary objectives of the study.