IT Security Incident To Impact Some Of Its Businesses’ Revenues: Sun Pharma

New Delhi
Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. As a result of these measures, the company’s business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses, Sun Pharma said in a regulatory filing late in the night on March 26. The company also said it would incur expenses in connection with the incident and the remediation. Currently, the company is unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation, it added. Sun Pharma had reported the incident on March 2. The company said it promptly took steps to contain and remediate the impact of the IT security incident, including employing containment and eradication protocols to mitigate the threat and additional measures to ensure the integrity of its systems infrastructure and data.