Why must Pharmaceutical Companies Enforce Cybersecurity Strategy?
In Sep 2022, a public-listed Indian pharmaceutical major– Aarti Drugs Ltd., suffered a Ransomware attack causing a data breach. The BianLian Ransomware group put its confidential info, about 6GB of data on a dark web forum. The Ransomware group demanded 20BTC (INR 15.8 Lakh) for the decryption key. The pharmaceutical industry is at the forefront of technological advancements. From drug discovery and clinical trials to manufacturing and supply chain management, technology has been pivotal in driving innovation and improvising patients’ diagnoses. A few compelling reasons why pharmaceutical companies must implement a robust Cybersecurity strategy. Cyber Protect Against Ransomware & Cyber Extortion – Ransomware attacks have emerged as a grave concern for the pharmaceutical industry. Cybercriminals hold their sensitive data hostage and encrypt them, then demand ransom. Such Cyberattacks cause operational disruptions, delaying R&D and endangering patient lives. Securing Patient Data & Intellectual Property (IP) – Pharmaceutical companies handle vast amounts of data such as patient medical records, clinical trial info & patient info. Data breaches could lead to severe consequences and operational disruptions. Such breaches lead to identity theft, fraud, and compromised patient trust. Pharmaceutical companies invest years of research and resources to develop life-saving drugs and cutting-edge medical technologies. IP theft could cause substantial financial losses and hinder future advancements. Prevent Counterfeit Drugs – The pharmaceutical industry faces the persistent threat of counterfeit drugs posing significant risks to patient safety and public health. Cybersecurity measures can prevent the infiltration of counterfeit medications into the supply chain. Securing digital systems using blockchain technology can enhance traceability and authentication ensuring patients receive genuine and safe medications. Protecting Supply Chain Integrity – The pharmaceutical supply chain involves many stakeholders from manufacturers to distributors and healthcare providers. It is a must to ensure the integrity and security of the supply chain to prevent counterfeit medications. Implementing stringent Cybersecurity measures helps mitigate the risk of supply chain disruptions. It also maintains the quality and safety of pharmaceutical products.Wrap Up
The pharmaceutical industry is more effective than ever due to the blend of technology in it. This industry has a heavy reliance on third-party supply chains, accelerating use of the cloud leading to hybrid and multi-cloud infra, and increasing adoption of IoT had all contributed to a surge in cybersecurity risks. Pharmaceutical companies may reduce the risks of Ransomware attacks or any other cyberattacks by implementing robust cybersecurity measures. Such measures may include robust network security measures, regular system backups, network segmentation, Phishing simulation awareness training & cybersecurity user awareness training. Collaborate with SNS India – Trusted Cybersecurity Partner ! For queries or requirements to implement robust Cybersecurity measures like Email Security, Secure Data Storage, Data Backup, strong Access Controls, Data Encryption, Data Loss Prevention, and regular Security Audits, please write to [email protected]. 
