Alkem Laboratories Reports Cybersecurity Breach at US Arm Enzene Bioscience

On 15 May, Alkem Laboratories Ltd, a leading Indian pharmaceutical company, publicly disclosed a cybersecurity incident involving its wholly-owned subsidiary, Enzene Biosciences Ltd. 

The breach, which occurred at Enzene’s US subsidiary, resulted in the compromise of employee email accounts and the subsequent unauthorised transfer of funds. The company has initiated a detailed investigation to determine the extent of the breach and its financial implications.

Email Compromise Leads to Fraudulent Fund Transfer

The regulatory filing revealed that the business email IDs of certain employees at Enzene’s US operations had been compromised, leading to fraudulent activity. Alkem stated:

"We wish to inform you that our subsidiary Enzene Biosciences Limited (Enzene) has detected a cybersecurity incident at its US subsidiary, where business email IDs of certain employees at the US subsidiary were compromised. The incident resulted in a fraudulent transfer of funds".

The precise amount affected remains under investigation, and the company has brought in independent external agencies to conduct a thorough inquiry. The findings will be submitted to the boards of Enzene and Alkem Laboratories for further action.

Commitment to Transparency and Regulatory Compliance

In its filing, Alkem Laboratories emphasised that the disclosure was made to uphold the principles of transparency and good governance.

"The board of directors of the company has decided that, in the interest of transparency and as a matter of good governance, this incident should be reported to the stock exchanges. Further, the company is taking all necessary steps and in the process of filing necessary complaints with concerned governmental and regulatory authorities in this matter," the statement read.

Read More: Government Directs RBI, NPCI and Others to Boost Cyber Security Amid Tensions

Alkem Laboratories Share Performance 

As of May 16, 2025, at 10:40 AM, Alkem Laboratories share price is trading at ₹5,248.50 per share, a decline of 0.54% from the previous closing price. Over the past month, the stock has surged by 5.87%

Conclusion

Alkem Laboratories' swift response and open disclosure reflect its dedication to corporate responsibility and governance. While the investigation is ongoing, the company is taking all necessary legal and procedural steps to address the breach and safeguard its operations.
 

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