Sun Pharma shares dip nearly 3% after Dadra facility receives OAI status

Shares of Sun Pharma witnessed a drop of nearly 3% in Friday’s morning trading session following news that the company’s Dadra facility received an Official Action Indicated (OAI) inspection status from the US Food and Drugs Administration (USFDA).

The pharmaceutical company disclosed that the Dadra facility underwent inspection from December 4, 2023, to December 15, 2023, and the USFDA subsequently classified its inspection status as Official Action Indicated (OAI).

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In a statement, Sun Pharma mentioned, “USFDA conducted an inspection at the company’s Dadra facility from December 4, 2023, to December 15, 2023. US FDA has subsequently determined that the inspection classification status of this facility as Official Action Indicated (OAI). We will work with the regulator to achieve fully compliant status.”

As of 10:30 am, the shares were trading 2.80% lower at ₹1,559.20.