The recent IT security Incident at Granules India had a ‘major effect ‘ on business operations, the company said.

Referring to the cyber security incident reported on May 25, the Hyderabad-based company said it had acted to control and address the impact of the IT security incident, employing the appropriate incident response protocols for containment and to minimise the risk.

“However, this had a major effect on our business operations due to significant changes in our IT systems and the time needed to meet the regulatory expectations, qualifications, re-certifications, and fine-tuning of quality and production systems,” Granules informed BSE.

The company “continues to carefully assess the potential impact of the expenses, in addition to the significant loss of revenue and profitability.’‘

Additional measures

Additional measures were being taken to ensure the integrity of its systems infrastructure and data.

Expert guidance from global cyber security specialists is currently being followed in carrying out these measures, it said. 

Further, enhanced security measures are being implemented to handle the ongoing incident and reduce the likelihood of a similar occurrence in the future.

A ransomware group has claimed responsibility for the incident.

“As part of our efforts to control the situation, we have implemented measures to isolate our network and initiated the recovery and restoration process,” the drug-maker said.

While the company has managed to restore production to near normalcy, there are backlogs and delays in the clearance of material for quality system approvals to dispatch the products for sale, it added. 

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