HQ Team
March 27, 2023: A ransomware group has breached the information security network of India’s Sun Pharmaceuticals unit, and there is a possibility that “file systems, business and personal data” might have been compromised.
Sun Pharma Advanced Research, a clinical-stage biopharmaceutical firm, “believes that there is no direct impact on its business operations so far,” from the incident that occurred early this month, according to a BSE filing.
Steps to gauge, contain and mitigate the impact, as well as to safeguard the integrity of our systems infrastructure and data, have been initiated, according to the filing.
“We understand that a ransomware group has claimed the responsibility for this incident…there could be a potential breach of certain file systems and the theft of business and personal data.”
Ransomware is malware or software intentionally designed to disrupt a computer, server, client, or computer network and leak private information.
Security, privacy
It can gain unauthorised access to information or systems, deprive access to information, or unknowingly interfere with the user’s computer security and privacy.
Through ransomware, cyber attackers can deny a user or organisation access to files on their computer. The attackers encrypt these files and demand a ransom payment for the decryption key.
The company is in such a position where paying the ransom is the easiest and cheapest way to regain access to its files. Some have added functionality – such as data theft – to incentivise victims to pay the ransom.
In India ports, a state government’s water resources department, private utilities such as Tata Power, SpiceJet airline, and All India Institute of Medical Sciences
According to the filing, the unit may incur certain expenses concerning the incident and the remediation.
“We are unable to determine the cost of remediation and other potential adverse impacts of the incident at this stage. The company shall provide further information on the said incident as necessary.”
The cost of ransomware breaches to an organisation is high, amounting to an average of US$ 3.6 million per incident, according to the Global Cybersecurity Outlook 2022.
“Even more troubling is the growing trend that companies need 280 days on average to identify and respond to a cyberattack.
Varied ransomware stains
“Ransomware attacks saw a significant increase in the first six months of 2021, with global attack volume increasing by 151%. The United States Federal Bureau of Investigation (FBI) has warned that there are now 100 different strains of ransomware in circulation globally.”
It is unlikely that this issue will diminish in pace or severity any time soon. There were, on average, 270 attacks per organisation in 2021, a 31% increase over 2020.
Staying ahead of the attackers requires considerable costs, which are unsustainable, according to the report.
The Sun Pharma Advanced Research Company was formed in 2007 through a demerger from Sun Pharma, a global leader in speciality generics.
