UPDATE 1-Basilea shares fall on setback for pneumonia drug in US

June 25, 2014 8:48 AM

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ZURICH, June 25 (Reuters) - Shares in Swiss biotech company Basilea fell by as much as 11.5 percent in early trading on Wednesday following a setback to its efforts to gain U.S. approval for its ceftobiprole treatment for pneumonia.

The company said in a statement on Wednesday it had been told by the U.S. Food and Drug Administration (FDA) that potential regulatory approval of ceftobiprole, a broad-spectrum intravenous antibiotic, to treat pneumonia would require additional phase 3 data.

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