Cyber Crime
Cyber Threats To Indian Healthcare Sector Highlighted As Sun Pharma Hit By Ransomware Attack
NEW DELHI: Sun Pharmaceutical Industries, India’s top drugmaker, has suffered a ransomware attack that has impacted the company’s revenues.
The drugmaker confirmed the attack in a stock exchange filing, stating that a ransomware group has claimed responsibility for the incident, which resulted in the breach of certain file systems and theft of certain company and personal data.
The company said that it proactively isolated its network and initiated the recovery process as part of the containment measures. However, its business operations have been impacted, and some of its businesses’ revenues are expected to be reduced.
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Sun Pharma first reported the ransomware attack on March 2, stating that it did not affect its core systems and operations. However, the company is currently unable to determine other potential adverse impacts of the incident. As a result, it expects to incur expenses concerning the incident and remediation.
Shares of Sun Pharma opened in the red in Mumbai trading following the announcement of the ransomware attack. However, it recovered losses and was trading at 980.30 rupees, up 0.8%, on the Bombay Stock Exchange (BSE) at 9.40 am. The BSE Sensex was up 0.4%.
The healthcare sector is the most attacked sector in India, followed by education, research and government, and the military. Healthcare saw the maximum number of attacks among all sectors in India, with an organization in India being attacked 1,866 times per week on average in 2022. Global cyberattacks increased by 38% YoY in 2022.
The incident at Sun Pharma comes amid growing threats of such attacks on the Indian healthcare sector. Companies in the sector must continue to take proactive measures to safeguard their IT systems and personal data from cyber attacks, which can have severe consequences.
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