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Sunday, January 26, 2020

Hyderabad: 4 ex-employees of drug firm held for stealing data, duplicating its products

According to the police, the main accused was sacked in 2017 for malpractices. He then set up his own company and lured 3 of his former colleagues to join him with huge hikes in salaries.

By: Express Web Desk | Hyderabad | Published: January 14, 2020 8:05:26 pm
hyderabad crime, hyderabad news, ex-employees of drug firm held for stealing data, latest news, indian express While Krishna Reddy and Venkat Reddy joined Srikanth Reddy’s company in early 2019, Yogeeswara Rao joined them in December 2019.

Four former employees of a Hyderbad-based pharmaceutical firm were Tuesday arrested for allegedly stealing its confidential data and manufacturing its products fraudulently.

According to the Cyberabad police, the main accused, Gunturu Srikanth Reddy, was sacked in 2017 for malpractices that resuled in losses and damage to the company.

Srikanth Reddy then set up another firm by the name of Hubert Healthcare Private Limited in Jeedimetla, Hyderabad, and lured three of his ex-colleagues to join him with huge hikes in salaries, officers said.

The police said he then instigated the other three — Mekala Krishna Reddy, Mekala Venkat Reddy and S Yogeeswara Rao — to get the data on some of the products manufactured by their previous employer, so they could start producing them on their own.

According to a police statement, Krishna Reddy transferred the confidential data of the company to his personal email and shared it with the prime accused. Venkat Reddy collected information like Batch Production Control Records, Specification (SPEC), Certificate of Analysis, Standard Testing Procedure, Raw Data of the drugs etc., from the company. Yogeeswara Rao, the police said, collected some confidential data of the firm and stored it in electronic form

Srikanth Reddy’s compnay then started manufacturing the drugs from Vishakapatnam in Andhra Pradesh, and supplied them to a Navi Mumbai firm and other customers.

While Krishna Reddy and Venkat Reddy joined Srikanth Reddy’s company in early 2019, Yogeeswara Rao joined them in December 2019.

The police took action after it received a complaint from the Hyderabad firm. The four have been arrested for committing data theft and playing fraud on the pharmaceutical company for wrongful gain with common intention, thereby causing a huge financial loss to the complainant.

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