Sun Pharma Shares Plunge 3% as US FDA Flags Baska Facility with OAI Status

• Sun Pharma shares fell 2.74% on BSE after the US FDA placed its Baska facility under OAI (Official Action Indicated) category.
• The FDA's inspection of the Baska facility from September 8-19 led to its OAI classification.
• The Baska facility is critical for Sun Pharma's new complex generics, potentially impacting future generic business growth.
• Manufacturing and supply of approved products for the US market from the Baska facility are currently ongoing despite the OAI.
• Sun Pharma's CFO, Jayshree Satagopan, affirmed continued growth in India business and on-track R&D and clinical trials.

Why It Matters: Sun Pharma faces pressure as US FDA's OAI status for Baska facility triggers a 3% share drop.