Significant Revenue Loss at Indian Pharmaceutical Giant after Cyberattack
Pharmaceutical company Granules India has reported a significant loss of revenue and profitability after a cyber security attack late last month. The attack led to major disruptions in the company's IT systems, as well as delays in meeting regulatory requirements and quality standards.
The company reported the incident on May 25. News outlets reported on June 29 that the company said that it has managed to restore production near to normalcy.
Russian ransomware group LockBit has taken responsibility for the cyberattack on Granules India.
May 20, 2023
Operational disruption caused significant loss of revenue and profit