Indian pharma working to arm itself against cyberattacks

Indian pharma working to arm itself against cyberattacks

Bengaluru, March 28, 2023 :


Indian pharma is now working to arm itself against cyberattacks. With the rapid growth of technology, cyber threats in the pharmaceutical industry are becoming more and more prevalent.

Cybersecurity is a top concern for businesses. With the rise of cyber-attacks, the cost of a cybersecurity breach has never been higher, said Zakir Hussain, CEO - BD Software Distribution.

In 2023, pharma companies need to be aware of the biggest cybersecurity threats that could cause them to suffer financial losses and reputational damage. The most common cyber threats that pharma companies should be aware of, included phishing attacks, ransomware attacks, data breaches, and malicious code injection, he said.

A breach can come from any direction or be a combination of factors. When you have privileged access to sensitive information, it's important to know that your security practices are in place and working so that you can trust the integrity of what you provide to your customers. A bad actor could get inside a pharma company network and use that access for their own benefit or to harm one of the clients, he added.

Even when an employee leaves a company, there may be negative emotions harbored by someone who left on bad terms, leading them down a path of vengeance against their former employer. The best way to prevent this from impacting businesses is to anticipate it and put measures in place. Implementing a robust monitoring program will identify bad actors and flag suspicious activity.

Human error is one of the top cybersecurity threats facing any organization. Although you can build a robust security infrastructure and train your employees in proper threat mitigation, most data breaches still result from human error--including phishing scams and phishing links, spoofing email addresses and attachments, malicious links on webpages, etc, Hussain told Pharmabiz.

The cloud which is a powerful tool for organizations looking to maximize their efficiency and increase their productivity, is also a double-edged sword when it comes to data protection. In fact, 27% of organizations using the public cloud reported a breach in the last 12 months, he said.

Cybercriminals have also made it a priority to disrupt business by targeting IoT devices such as printers, cameras, and lighting fixtures. Even if it is an old industrial wireless router or a state-of-the-art IPSec VPN or Access Point, cyber attackers still find ways to breach the network and access sensitive business data through vulnerable connected devices.

Ransomware takes control of the victim's computer and encrypts files, demanding payment in exchange for a key to decrypt them. A ransom may be requested no matter what type of file loss occurs, from losing data due to ransomware infection or human error, or machine failure as in a hardware malfunction.

In 2023, expect to see more attacks on businesses associated with critical infrastructure. An attack of this nature also leads to one of the most devastating cybersecurity incidents. Only a proactive approach to cybersecurity can help pharma companies avoid these costs, said Hussain. Pharmabiz