Market Segment
The pharmaceutical industry is home to the most sensitive data and highly valuable technologies and is a prime target for cybercriminals. Cybersecurity in the pharmaceutical industry is at risk as organizations host sensitive information about patients, registered drugs, clinical trials, research projects and technological developments.
The pace of technological change, increased automation tools, and the use of third-party vendors pose significant cybersecurity challenges for pharmaceutical companies. An important challenge of information security in the pharmaceutical industry is the implementation of security protocols and comprehensive and strong strategies to protect digital assets and reduce cyber attacks on pharmaceutical companies. This could undermine consumer and patient trust in drug companies, damage their brand image, and prevent a catastrophic data loss that could send stock prices crashing.
However, the pharmaceutical industry was not at the forefront of cyber security, but due to the hottest attacks, the pharmaceutical industry began to prioritize the need for better security.
Cyber threats to the pharmaceutical industry are prone to personal information theft and evolving attack vectors. As organizations focus on digitization, much of their valuable data is stored online, making them a target for cybercriminals.
Pharmaceutical companies also have many devices that store health and patient data online. We use tools like big data and the Internet of Things (IoT). This increases risk and makes it even more important for organizations to implement security and privacy by design.
Privileged access is the process of assigning a higher level of access to a particular file or system. It allows organizations to protect their applications and IT infrastructure, run their business more efficiently, and maintain the confidentiality of sensitive data and their most critical infrastructure. Privileged access can be applied to both human users and non-human users such as applications and machines.
Pharmaceutical companies rely heavily on third-party vendors to perform their day-to-day activities such as research and development. While many companies rely on clinical research firms for medical advice to invest in, others use third-party procurement organizations to receive, store and fulfill drug orders.
Breaches by third-party vendors can harm pharmaceutical companies and lead to data loss. Healthcare cybersecurity relies on implementing processes and practices to ensure that strict regulatory compliance requirements are met.
Ransomware hackers attempt to suspend business operations in order to hold an organization to a ransom. In these paid malware attacks, cybercriminals send malicious attachments that block and encrypt files and computers when they are downloaded. The attacker then demands a ransom, promising to regain access to the data and device once payment is received.
The pharmaceutical industry is one of the biggest supporters of the new IoT, which deepens understanding and simplifies access to important documents and patient data. The Internet of Things increases the risk of cyber-attacks and introduces additional vulnerabilities, such as uncertainty about where they are created and ultimately accessed.
Human error and negligence continue to be the leading cause of data breaches and cyber attacks across all industries. If users accidentally share data or use unauthorized apps or software, cybercriminals can intercept or steal information.
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