Sun Pharmaceutical Industries Ltd. said on Sunday night that a ransomware group took credit for the information security incident that occurred on March 2.
"The company promptly took steps to contain and remediate the impact of the I.T. security incident, including employing containment and eradication protocols to mitigate the threat and additional measures to ensure the integrity of its systems infrastructure and data," Sun Pharma said in an exchange filing.
The I.T. security breach incident has impacted its business operations, and it has taken steps to contain the impact, the pharma major said.
After the incident occurred at the beginning of the month, the drug maker isolated its network and initiated the recovery process. Nonetheless, the company's business operations have been impacted.
Consequently, "revenues are expected to be reduced in some of our businesses", the drugmaker said. "The company would incur expenses in connection with the incident and the remediation."
Any other potential adverse impact of the incident is yet to be determined, which could increase costs to maintain insurance coverage, divert the time of the management and employees, and lead to the possibility of litigation.
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