How to Prevent Cyber-Attacks in the Pharmaceutical Industry in India
Preventing Intellectual Property Theft in Pharmaceutical Companies in India
How prepared is your Pharmaceutical Company to prevent, detect, and respond to insider and external threats?
“As per ASSOCHAM study, India’s domestic drug formulations market is likely to cross $20 billion by 2018-2019 from a level of about $11 billion in 2013-2014.”
“A 2015 survey by KPMG related to India’s Cyber-crime said that 44% of respondents believed that the pharma sector was a target for cyber-criminals. The primary reason being financial (65% respondents), but the close next was corporate espionage (46% respondents).”
The pharmaceutical industry makes billions of dollars in sales each year. The pharma industry developing gradually and depends on with full trust by using technology more and more to manage day-to-day business. The Pharma industry generates extent amounts of sensitive and private info such as employee information, medical records, financial data and research data. Due to this pharmaceutical industry exposed to the possibility of being attacked by cybercriminals.
India confirms more than 27,000 cybersecurity threat incidents in the first half of 2017, according to Government of India Ministry of Electronics and Information Technology (Click Here) Report. In this report includes threats like phishing attacks, DDoS attacks, virus/malicious code, website intrusions and defacements or damages to data as well as ransomware attacks, the minister’s reply added.
Acmetek helps our customers in understanding the cyber threats and offers suitable security solutions protecting data and vulnerabilities. Want to know how to protect your pharmaceutical intellectual property? Request a Call-back for more assistance from an Acmetek Trusted Advisor today!
Information Security Management is critical in the pharmaceutical industry. Cyber criminals can damage your company reputations and it will take years to overcome the cyberattacks effects.
Valuable Patient Information
Pharmaceutical industry having plenty of Patient data. Patient data is collected from employees, clinical patients, and donors. Patient health information is extremely precious because the health records tell a person’s entire life history as well as transactional history. This substantially constructs the company to Health, Financial and Reputational risk.
Supply Chain Security
Different types of the business process require pharmaceutical industry companies’ data to share sensitive information with third parties, make them vulnerable to information security breaches. This leads to getting benefited like below:
- Increased number of licensing deals and collaborations
- Increased outsourcing of manufacturing and clinical trials to third parties
- Increased usage of Social Media channels and other technologies for information exchange online and communication.
Threat of Insiders
The threat from insiders is real and on the increase. In this digital industry, pharmaceutical assets information is at increasing risk when considering the human element and cyber-attacks.
Inside the organization employees could pose a problem because they handle trusted valuable data within the organization and based on their position, they could have access to the sensitive data information. Dealing with malicious, disgruntled or ignorant insiders is much more difficult than outsiders.Remember that “insider” includes not only Company’s employees but anyone inside your mark out boundary of enterprise network security someone, such as suppliers, contractors, business partners, and resellers.
There is nothing more important to a pharmaceutical organization than the formula for one of its new drugs. There is a huge chance to stealing a successful drug design which is not protected. IP Protection provides for bypass the threat risk and cost of R&D to overcome from unethical competitor opportunity to do data breach to take advantage of marketing a profitable drug.
As obvious, companies need to take both external threats and insider and business partner cyber-attacks because pharma industry has some of its most sensitive data often scattered across locations, sometimes with multiple partners. Insider threats are extremely serious. Fortunately, each cyber attack there is a way to defend using the cybersecurity strategies. So, there is an easy way to avoid all these threats with Acmetek Security Solutions.
You need to have a good view of what happens within your organization to be able to track at the beginning of the suspicious activity. When you have strong security systems you will be able to identify data breaches and collect the data you need for a forensic investigation need.
Acmetek – A Comprehensive Suite of Pharmaceutical Companies Security Solutions Provider in India.
Schedule a meeting with an Acmetek Trust Advisor today to learn about information risks in the pharmaceutical industry, and how to reduce them by focusing on specific areas of security requirements.