Cyber security a big concern for Indian pharmaceutical firms

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Mumbai: Ransomware attacks and intellectual property and data theft are the top cyber security concerns for pharmaceutical companies in India as they make the digital transition.

According to a Deloitte India-Data Security Council of India report, the pandemic and an increase in targeted attacks have prompted certain pharmaceutical companies to double their cybersecurity investments.

To scale this digital vision and build trust around the world, the pharmaceutical industry must recognise cybersecurity as a key lever, working to strengthen security around data, operational technologies (OT), and across the supply chain, according to Deloitte India Partner and Leader (Cyber) Gaurav Shukla.

“This ability to leverage cybersecurity as a key enabler for business and digital transformation can assist pharma organisations in transitioning from a leader to a trusted leader,” Shukla added.

Between 2019 and 2021, cybersecurity investments at leading pharmaceutical companies increased by at least 25% to 30%.

Because of the pandemic and the increasing number of targeted attacks, certain pharmaceutical companies have doubled their cybersecurity investments in the last 18 months.

According to the report, 70% of the leading pharma companies have highlighted their focus on a zero-trust approach, with the need for a clear roadmap over the next two years, around network, data, and access.

“While PLI schemes and government support will encourage more niche manufacturers and research-led organisations, the emphasis on cybersecurity adoption and effectively managing cyber risks will enable business transformation and establish market leaders in this sector,” DSCI CEO Rama Vedashree said.

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