Business

Dr Reddy, Cyberattack, Dr Reddy Laboratories

Dr Reddys Isolates Data Centre Services After Cyberattack, Shares Fall 4 percent

main img3

Dr Reddy, Cyberattack, Dr Reddy Laboratories

Cyber-Attack: Dr Reddy's Labs said on Thursday it had isolated all its data center services as a preventive measure following a cyber-attack.

Dr Reddy's Laboratories said on Thursday it had isolated all its data centre services as a preventive measure "in the wake of a detected cyber-attack". Shares in Dr Reddy's Laboratories fell as much as 4.25 per cent to ₹ 4,832.40 apiece on the BSE after the news, having begun the day flat at ₹ 5,046.90. At 2:18 pm, the Dr Reddy's stock traded lower by ₹ 61.90 - or 1.23 per cent - at ₹ 4,985 apiece on the bourse, underperforming the benchmark S&P BSE Sensex index which was down 0.51 per cent. 

Shares traded in high volumes. By then, a total of 1.11 lakh Dr Reddy's Laboratories shares had changed hands on the BSE, as against a daily average of 60,000 recorded over the past two weeks. 

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," said Mukesh Rathi, chief information officer, Dr Reddy's Laboratories.

The Hyderabad-based drug maker has a partnership to run clinical trials of Russia's Sputnik-V COVID-19 vaccine in India.

The pharmaceutical company also has tie-ups with global firms to sell coronavirus treatments remdesivir and favipiravir in India besides its partnership for the Sputnik-V vaccine.

Dr Reddy's Labs is the country's second most valuable pharmaceutical company, after Sun Pharma.  

Source : NDTV

Dr Reddy, Cyberattack, Dr Reddy Laboratories

add image
Advertisement add spot

Related Articles

Technology

Latest News & Articles