With the rise of digital transformation as an imperative focal point of any organization success agenda, cyber security landscape is persistently altering and evolving as well. Pharmaceutical and biotechnology industries; being built on innovation, is now the number one target of cybercriminals around the world. A cyber-security breach can wreak havoc on these sectors compromising of its proprietary digital assets, highly sensitive intellectual property, trade secrets, data related to pharmaceutical advances and technologies and results of clinical trials, which are all incredibly sensitive and invaluable, in turn leading catastrophic consequences like eroding consumer trust, competitive lag, litigation and potentially destructing the critical systems. Such breach also consumes both time and energy to contain the breach and mitigate the damage, eating up resources, people hours, and funds; that could have been deployed elsewhere.
In the past, the BIO-PHARMA VERTICAL has suffered serious financial loss from the Wannacry and NotPetya cyber-attacks in 2017. As these industries are undergoing myriad of changes such as digitalization, convergence of Information Technology (IT) and Operational Technology (OT), current remote working pressures, BYOD approach and often seen Merger and acquisition (M&A) trends, they have become more vulnerable to threats. Moreover, untrained employees in the firm can further open new doorways for cyber theft. The estimated costs of such threats for the Pharma industry in 2020 are 1.8 billion dollars.
Consequently, having a comprehensive cyber security strategy in place to safeguard the digital assets has become an essential part of protocols. Companies that do not priorities creating flexible, robust and comprehensive cyber security strategies leave their valuable date vulnerable.
The webinar will serve as a thought provoking platform featuring world-class senior industry security expert’s presenting various strategies and methods to assess and overcome key threats. Hear how leading organizations have exploited technology to deliver improved incident monitoring, management and response.