Drugmaker Granules India on Thursday warned of a significant loss of revenue and profitability from the IT security attack that it came under last month.
Stating that a ransomware group has claimed responsibility for the incident, the company said the potential impact was being carefully assessed.
While production has been restored near to normalcy at present, there are backlogs and delays in clearance of material for quality system approvals to dispatch the products for sale, Granules, which is one of the largest manufacturers of paracetamol, said in a stock exchange filing.
On May 25, in an intimation, it said an information security incident had occurred and the impacted IT assets had been isolated. The matter is being investigated and appropriate containment and remediation actions being taken in a controlled manner to address the incident, the company said.
In the update, the company said as part of efforts to control the situation, it had implemented measures to isolate the network and initiated the recovery and restoration process. “However, this had a major effect on the operations of our business due to significant changes in our IT systems and the time needed for meeting the regulatory expectations, qualifications, re-certifications, and fine-tuning of quality and production systems.”
Expert guidance from global cyber security specialists is being followed in carrying out additional measures to ensure the integrity of systems infrastructure and data. Enhanced security measures were being implemented to handle the ongoing incident and reduce the likelihood of a similar occurrence in the future, Granules said.
Published - June 29, 2023 08:43 pm IST
