Dr Reddy’s Isolates Data Centers After Cyber-Attack
(Bloomberg) -- Indian drug-maker Dr. Reddy’s Laboratories Ltd. said it has isolated all its data center services as a preventive measure after detecting a cyber-attack.
“We are anticipating all services to be up within 24 hours,” Chief Information Officer Mukesh Rathi said in an exchange filing Thursday. “We do not foresee any major impact on our operations due to this incident.”
Shares of the company pared losses to 1% as of 12:21 p.m. in Mumbai after the statement. The stock had plunged as much as 4.3% earlier after ET Now television reported the incident citing people it didn’t identify.
Dr. Reddy’s is among firms testing a vaccine for the novel coronavirus. It received approval, together with Russia’s sovereign wealth fund, to conduct human clinical trials in India. The Russian Direct Investment Fund will supply 100 million doses of the vaccine to Dr. Reddy’s upon receiving regulatory approval in India. The vaccine would be produced in the South Asian nation and some of it could be sent back to Russia.
Producers there are working to ramp up output quickly but face challenges in maintaining the stability of the vaccine at higher production volumes. Industry Minister Denis Manturov said last week that Russia will produce no more than 2.3 million doses by the end of the year, far below the target of 30 million set by other officials.
©2020 Bloomberg L.P.