The pharmaceutical industry is one of the most regulated sectors of our economy. Often, business decisions at pharmaceutical companies are driven by compliance, regulation and market competition. In recent years, while cybersecurity has moved up on the priority list, pharmaceutical companies are still making policies and risk mitigation decisions primarily based on government investigations or industry regulations. Cybersecurity risks for pharmaceutical companies grow exponentially due to heavy reliance on third party vendors and little to non-existent cybersecurity preparation by vendors.
In the past, cyber attacks have focused on gaining proprietary information to gain substantial competitive advantage but this could change quickly. While pharmaceutical intellectual property will remain high value target, cyber threats could evolved to stealing legally protected data such as personal health records and other employee personal identifying information. Additionally, business growth and expansion into emerging markets create more breach opportunities due to lack of cybersecurity laws and regulations in some of the emerging markets.
At Armolon, we help pharmaceutical companies by providing internal IT and network assessments, penetration testing as well as reviewing vendor cybersecurity risk factors. In addition, we can help with comprehensive data security and disaster recovery planning. We also provide information security training for internal staff and consultation services for CISOs.