Pharmaceutical companies of all sizes are highly attractive targets for cybercriminals, as are the chemical companies that supply the materials and components for drugs and medicines. Pharma companies typically hold large amounts of intellectual property (IP) relating to research data, patented drug formulas, and clinical trial results, as well as a potentially vast amount of highly sensitive personal and healthcare data. Organizations must also guard against the risk of insider threats, whether criminal or accidental, even more so in the age of AI, where confidential data might be exposed to the public web through a lack of care and attention. And all companies are vulnerable to common cyberattacks like socially engineered phishing and ransomware attacks.
Any disruption to or exploitation of the sector’s vulnerabilities has wide-reaching impacts, both from a healthcare and financial perspective. Cybersecurity breaches can damage a company’s reputation and erode trust among healthcare providers, regulatory bodies, and patients. Strong cybersecurity measures help maintain trust and protect the company’s brand and address some of the specific complexities affecting the sector.
