Fourth-largest pharmaceutical company warns of lost revenue after major ransomware attack

by time news

The hacker gang known as Alphv claims to have broken into the network of Sun Pharmaceutical Industries Ltd. and stolen more than 17 terabytes of data, including the personal information of more than 1,500 workers, some of whom were located in the United States and Europe. .

The hackers claim they tried to extort money from the company through a “chat”, but the company refused to interact with them. Sun Pharmaceuticals did not respond to the hackers’ claims.

The hackers claim that Sun Pharmaceuticals deliberately downplayed the importance of the data leak by publicly stating that it was just a “little problem”.

In addition, hackers claim that the company’s information technology personnel continually attempt to arrest criminals operating within the company’s network by setting a variety of booby traps.

In filings with the Bombay Stock Exchange, Sun Pharmaceuticals, which is the world’s fourth-largest specialty generic pharmaceutical company, said that attempts are underway to contain and remove the ransomware, and that a cybersecurity firm has been hired. to help react to the situation. Pharmaceutical drugs manufactured by this Mumbai-based corporation were sold in over a hundred different countries in 2022, generating sales of $5 billion. It has more than 37,000 workers on its payroll.

The company has acknowledged that an anonymous ransomware gang has claimed responsibility for the attack; however, they have not identified the group. On March 24, the infamous Black Cat/AlphV ransomware organization posted information about the company on its leak site.

Hackers have threatened to publish material related to the company’s alleged doping study, and have threatened it many times.

The alleged data breach at Sun Pharmaceutical Industries Ltd. may have serious and far-reaching repercussions if it is confirmed to have occurred.

Sun Pharma’s share price was lower than expected when trading began in Mumbai. However, it was trading at Rs 980.30, a gain of 0.8%, on the BSE at 9:40 a.m. after recovering from its losses. The BSE Sensex had a gain of 0.4%.

This comes at a time when there is a growing risk of similar attacks against the healthcare industry in India, which is the industry that has been attacked the most, followed by education, research, government and the armed forces.

Compared to other industries in India, the healthcare sector had the highest number of cyberattacks. In 2022, an organization in India was attacked an average of 1,866 times per week. In 2022, there was a 38% year-on-year increase in the number of global cyberattacks.

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