The Pharma industry sits at the forefront of scientific advancement, holding immense responsibility for developing and delivering life-saving medicines. However, this crucial sector also faces significant cybersecurity challenges.
What are the Top Challenges for the Pharma Companies?
Evolving Attack Landscape
Hackers are constantly innovating their methods, and the sophistication of cyberattacks is on the rise. This includes targeted attacks against specific companies, exploiting new vulnerabilities in software and systems, and employing artificial intelligence (AI) to automate attacks and bypass traditional defences.
According to the “Cost of a data breach 2023: Pharmaceutical industry impacts“, the Pharma data breaches stem mostly from malicious attacks (45%), human error (28%), and IT failures (27%). Phishing, stolen credentials, and cloud misconfigurations are also common attack methods.
Supply Chain Vulnerabilities
The Pharma supply chain is complex and often involves multiple vendors and partners. This interconnectedness creates weaknesses that attackers can exploit. A breach at any point in the chain can compromise sensitive data, disrupt production, and delay delivery of critical medicines.
Based on the “State of Supply Chain Defense Annual Global Insights Reports 2023,” organizations faced a 27% increase in the average number of supply chain breaches in 2023 compared to 2022. This means companies experienced an average of 4.16 breaches in 2023, compared to 3.29 breaches in the previous year.
Increased Reliance on Technology
The use of AI, Big Data, and the IoT is rapidly increasing in the Pharma industry for drug discovery, clinical trials, and manufacturing. These technologies offer tremendous potential, but they also introduce new attack surfaces for hackers to exploit.
Insider Threats
Malicious insiders, whether employees or contractors, pose a significant threat. They can steal data, sabotage systems, or sell information to competitors. Mitigating this risk requires robust access controls, security awareness training, and background checks. According to the “2024 Data Exposure Report”, Companies faced an average of 24 insider-driven data breaches per month.
Evolving Compliance Landscape
Regulatory bodies are increasingly focusing on data privacy and security in the healthcare sector. This necessitates that Pharma companies remain compliant with regulations while navigating the complex cybersecurity landscape.
Pharma Companies can Tackle these Challenges – How?
To address these challenges, pharma companies need to adopt a multi-layered approach to Cybersecurity. This includes:
Investing in robust security solutions: This encompasses firewalls, intrusion detection systems, data encryption, email security and other tools to protect against various cyber threats.
Implementing a comprehensive security strategy: This strategy should address all aspects of cybersecurity, including risk management, incident response, and employee training.
Building a culture of security awareness: Regular cybersecurity awareness training workshops for employees can help them identify and report suspicious activity, reducing the risk of human error.
Collaborating with partners: Sharing information and best practices with other companies in the industry and with cybersecurity experts can strengthen collective defense.
Wrap Up
Cybersecurity is an ongoing process. By proactively addressing these challenges and staying vigilant, the Pharma companies can ensure the safe and secure development, production, and delivery of life-saving medicines in 2024 and beyond.
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Swathi
Author
Working IT professional and a Cyber Security enthusiast. Passionate to write about Cyber Security topics and Solutions. I share my insights as I study articles and trending topics in the field of Cyber Security.
