Siegfried restarts production after cyber attack
The Siegfried Group (SIX: SFZN) has largely overcome the consequences of the cyber attack that occurred shortly before Pentecost and has begun to ramp up production again.
Some sites had continued or resumed operations to a certain extent last week. Other sites will follow in the next days, including the Hameln site, which is important for vaccine filling and finishing and shall start unrestricted operations at the beginning of the week. The two sites in Spain acquired at the beginning of the year were not affected by the attack and were productive without interruption.
As a result of the attack, there will be certain volume and revenue shortfalls in the first half of the year with cost continuing to run during the short interruption, but these are expected to be made up for the full year. Based on the results of the forensic investigations, which are well advanced, the Siegfried Group continues to assume that no sensitive customer data were affected by the incident.
The cleanup of this particular situation will take a few more days. After the initial focus of the work was on the production-related systems, all remaining systems will also be restored in the next and final phase. Permanent damage to the IT infrastructure, IT systems or equipment is not expected.
The Siegfried Group is a global life sciences company with sites in Switzerland, Germany, Spain, France, Malta, the USA and China. In 2020, the Siegfried group achieved sales of CHF 845.1 million and currently employs approximately 3’500 people at eleven sites on three continents. Siegfried Holding AG is publicly listed on SIX Swiss Exchange (SIX: SFZN).
Siegfried is active in manufacturing pharmaceutical APIs (and their intermediates) as well as drug products (tablets, capsules, sterile vials, ampoules, cartridges and ointments) for the pharmaceutical industry and provides development services.