Dr Reddy’s Labs Hit By Cyber Attack Amid Trials of COVID Vaccine

Brand logo of Dr Reddy

(Photo Courtesy: Wikimedia Commons)

One of India’s largest pharmaceutical companies, Dr Reddy’s Laboratories has been hit by a cyber-attack and has isolated its data services.

Dr Reddy's said in a statement, “In the wake of a detected cyber-attack, we have isolated all data center services to take required preventive actions.”

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.”

On Thursday, Dr Reddy's Labs stock was trading down by more than 3 percent after reports that its plants worldwide had been shut down due to a data breach.

Dr Reddy's Labs website is also not functioning although the company is yet to give a clarification on the status of its plants and what exactly is the data breach.

As per reports, Dr Reddy's Laboratories' plants in India, Brazil, Russia, the United Kingdom and the United States were impacted by the data breach. It has shut down all production units after a breach in the server.

The share price of Dr Reddy's Laboratories fell on the report of the data breach. The stock was trading 2.94 percent lower at Rs 4,898.45.

The development comes days after the company received approvals for clinical trails of Sputnik vaccine for COVID-19 in India.