Mukesh Rathi, CIO, Dr Reddy’s Laboratories said that they are anticipating all services to be up within 24 hours, and do not foresee any major impact on operations due to this incident.

Dr Reddys LaboratoriesImage source: Dr Reddy's Laboratories Facebook page
Money Data breach Thursday, October 22, 2020 - 12:13

Hyderabad-based pharmaceuticals major Dr Reddy’s Laboratories has shut down all production facilities across the globe after a data breach in its servers. First reported by ET Now, the company has reportedly shut down plants in the UK, US, Brazil, India and Russia due to the data breach, which happened between 4-5 pm US time.

Dr Reddy’s confirmed the data breach in a regulatory filing and said that the company has isolated all data center services to take required preventive action in the wake of a detected cyber-attack

Commenting on this development, Mukesh Rathi, CIO, Dr. Reddy’s Laboratories said, “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.”

The shares of the company plunged by 3% soon after the news broke and is currently trading 1.45% down.

The data breach comes after, Dr Reddy’s and the Russian Direct Investment Fund, which is Russia’s sovereign wealth fund, on Saturday, had announced that they received an approval from the Drug Control General of India (DCGI) to conduct an adaptive phase 2/3 clinical trial for Sputnik V vaccine in India. The pharma major said at the time that the trial will be a multi-centre and randomised controlled study, which will include safety and immunogenicity study.

Both organisations partnered in in September 2020 to conduct trials of Sputnik V vaccine and said at the time that RDIF would supply 100 million doses of the vaccine to Dr Reddys upon regulatory approval in India.

RDIF had also said that the deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India.

Sputnik V is also currently undergoing phase 3 clinical trials in Russia, with phase 3 clinical trial of the vaccine starting in the UAE last week.

With PTI inputs

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