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Sun Pharma may incur revenue loss from ransomware attack on March 2
Business Standard
|March 28, 2023
India's largest drugmaker by market share Sun Pharmaceutical Industries (Sun Pharma) has admitted that its operations and revenues will be impacted by a cyberattack on its information technology (IT) assets that occurred on March 2.
The company said it has 'proactively' isolated its network and initiated a recovery process.
"As a result of these measures, the company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses," Sun Pharma said in a regulatory filing late on Sunday night.
In a regulatory filing on Monday, Sun Pharma Advanced Research Company also said it may incur certain expenses in connection with the incident and the process of remediation.
"We are unable to determine the cost of remediation and other potential adverse impacts of the incident at this stage," the company stated.
This story is from the March 28, 2023 edition of Business Standard.
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