Pharmaceutical companies can’t afford to be the victim of a cybersecurity threat or attack. Too often, however, they don’t establish aggressive preventative measures until an incident happens. In this respect, pharmaceutical companies lag behind some other industries (like retail) by taking an incident-response approach to security.
Today’s blog from CustomVault Convergint speaks to pharma security trends for incidence and response in a world that is increasingly digital.
Know Your Enemy
The pharmaceutical industry has long been targeted by cybercriminals. In 2014, Deloitte reported that the pharmaceutical industry was at significant risk, and the threat has only escalated over time.
What are they looking for? Intellectual property. Think secret formulas for proprietary drugs and other confidential data. And every internal device with an IP address is a portal open to attack.
Even Major Companies Are Vulnerable
All pharmaceutical companies are vulnerable, even the major players.
Chinese hackers got into Bayer’s computer networks in 2018 using malware that gave cybercriminals remote access to search for vulnerabilities they could potentially exploit.
Merck was one of dozens of companies hit by ransomware in 2017 when employees were completely locked out of their computers and business effectively hit a roadblock. The pharma giant had to halt production on new drugs, and the Merck’s revenue suffered that year as a result.
With an unfavorable cross-industry trajectory in cyber incidents, one thing is clear: you need to take steps NOW to prevent hacks in the future.
What You Can Do
The incident and response method no longer works for the industry. Instead, pharmaceutical players are urged to:
Identify vulnerabilities. Create a comprehensive audit of possible vulnerabilities for your cybersecurity. This is true even outside of your own company. Vet your third-party vendors thoroughly to make sure their cybersecurity standards are up to yours. Once they are onboard, continuously monitor them.
Use automated processes to secure your data. Hackers continuously update their attacks and malware. Safeguard your proprietary systems with software such as robust password generators, two-factor authentication systems, reCAPTCHA programs, and administrative access protocols for upper-level staffers.
Make sure your cloud-based systems use best practices. IT managers and upper-level staff only should have access to as opposed to low-level employees. Cloud-based platforms need robust passwords and two-factor authentication, as well.
Consult with a professional. The best thing you can do now is consult with a security professional to safeguard your proprietary information. CustomVault Convergint is one such company that can help your pharmaceutical company with your electronic security protocols.
Trust CustomVault Convergint for Pharmaceutical Security
We can consult with you to find out how best to approach your electronic security concerns. Contact CustomVault Convergint, and we’ll start discussing your requirements based on your specific requirements.