Paracetamol maker Granules India hit by ransomware attack

    Granules, the Indian Pharmaceutical company that manufactures Paracetamol has released an official statement that a ransomware attack that targeted its servers last month has resulted in substantial loss of revenue and profitability.

    As per the details available to our Cybersecurity Insiders, a noted ransomware group targeted Drug maker on May 25th and the information security incident brought in financial loss that could hit the profit margin to a great extent this year.

    Currently, the production of the drugs is going slow, however, the IT staff has restored the pro-duction to normal to a great extent and are sure that the dispatching of stock will return to nor-malcy by early next week.

    Granules India has made an official statement that it did not pay any ransom to the criminals and instead recovered the encrypted data through a backup plan.

    NOTE- Cyber criminals indulging in malware spread are involving in double extortion tactics were they first steal a portion of data and threaten the victim of encrypting the entire database until a ransom is paid. In case, the victim fails to pay the ransom on time or doesnā€™t pay heed to the demand, they sell the stolen data for monetary benefits. FBI released a press statement in November 2020 that the victims should not pay the ransom, as it not only encourages crime, but also doesnā€™t guarantee a decryption key for sure. Also, there is an apparent threat that the ransomware spreading gang can also target the same victim twice or thrice in the same year.

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    Naveen Goud
    Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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