Dr Reddy’s Labs share prices tumble after cyber attack

Dr Reddy’s said in a statement, “In the wake of a detected cyber-attack, we have isolated all data centre services to take required preventive actions.”

 Mukesh Rathi, CIO, Dr Reddy’s Laboratories said, “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.” Dr Reddy’s Labs website is also not functioning although the company is yet to give a clarification on the status of its plants and what exactly is the data breach.

 As per reports, Dr Reddy’s Laboratories’ plants in India, Brazil, Russia, the United Kingdom and the US were impacted by the data breach. It has shut down all production units after a breach in the server.

 The share price of Dr Reddy’s Laboratories fell on the report of the data breach. The stock was trading 2.94 percent lower at Rs 4,898.45.

 The development comes days after it got approvals for clinical trials of Sputnik vaccine for COVID-19 in India.