Bayer AG (BAYRY)  shares traded lower in Frankfurt Wednesday after the drugmaker posted solid full-year earnings but said its crop sciences unit would only see modest growth in 2017 as it completes its $66 billion takeover of Monsanto Co. (MON)

Bayer said group sales rose 1.5% to €46.8 billion last year against net income of €4.5 billion and core earnings per share of €7.32 per share. However, the Leverkusen, Germany-based group said it sees a "volatile" environment for the world seed and crop protection market next year and mid single-digit earnings growth for the company overall.