In major data breach, drug maker Dr Reddy's Laboratories has temporarily shutdown production across its key plants. The incident happened in the early hours.
Sources within the company confirmed to Moneycontrol about the breach, and the halt of production.
This comes just days after the company received an approval from DCGI to conduct phase 2 and 3 trials for a reworked protocol that sought some additional information.
The company is currently reviewing its IT network systems, and trying to find out how the breach took place, sources told.
Mukesh Rathi, CIO, Dr. Reddy’s issued a statement in the matter that is as follows:
"In the wake of a detected cyber-attack, we have isolated all data center services to take required preventive actions.“We are anticipating all services to be up within 24 hours and we do not foresee any major impact on our operations due to this incident.”
It's still not known at this point how much time it would take to resume production.
This could be one of the major cyber attacks seen on an Indian company of late.
Dr Reddy's has 17 manufacturing units and six research and development (R&D) facilities in India, and in overseas it has six manufacturing units overseas and three R&D centres.
Dr Reddy's is one of the largest Indian pharmaceutical company with sales of Rs 17,460 crore in FY20, of which about 80 percent comes from exports.
The company’s plants in India, Brazil, Russia, the United Kingdom and the United States were impacted by the breach which happened between 4.00-5.00 pm (US time), as per reports.Shares of Dr Reddy's declined 2.81 percent and were trading at Rs 4905 at 11.05 am, while the benchmark Sensex dropped 0.30 percent to 40,589.26 points.