Life sciences companies frequently store and manage valuable intellectual property, making them particularly attractive targets for cyberattacks (unwelcome attempts to steal or destroy information through unauthorized access to computer systems). It is A recent study of the world’s top 20 Fortune 500 pharmaceutical companies revealed that the total number of breaches and records published since 2020 has increased at an alarming rate. rice field.

Ransomware is a special type of cyber-attack that effectively demands large monetary payments. More specifically, ransomware is malicious software called malware that is deployed on your computer or system and threatens to expose or block access to your data through encryption. In either case, the victim has to pay the attackers a ransom to regain access to the content. Ransomware groups are known to demand payment by a certain deadline. If not paid, the threat is that your data will be lost forever and can be used to harm your organization. Other examples of non-payment can cause ransoms to grow exponentially. The abundance and critical nature of the work that life sciences companies do makes them very likely targets for ransomware.

Therefore, the best way for life sciences organizations to protect against cyberattacks, especially ransomware, is to establish a proactive security posture. It’s a call to action for life sciences industry leaders to work with data governance experts to achieve this goal. This article highlights common challenges and vulnerabilities that can affect security practices in the life sciences industry, and examines how ransomware can negatively impact researchers, while companies loom large. Share your options to strengthen your defense against threats.

The DNA of Software in Life Sciences

At a fundamental level, this may be one reason why software development in the life sciences is a popular target for malicious hacking groups. In some cases, the software is written by industry experts who focus on the compliance and regulatory needs of business processes for the industry to operate securely. Their main focus is not on developing critical elements such as software security and encryption. The ultimate goal is to help research and development (R&D) teams perform their critical work in alignment with regulatory standards, but the result is a platform designed from the ground up with privacy and security in mind. and usually result in unwieldy software.

Industry regulations and software validation can prevent regular software updates that fix security vulnerabilities. This means that if IT changes the way users create, access, or share content, standard operating procedures should be revalidated to ensure users are following them correctly. These updates, if they occur during a clinical trial, can be delayed and can leave you vulnerable for months to a year until the clinical trial is complete. The problem is deemed “too inconvenient” and does not provide his ROI to justify the task.

Impact of Standards on Security and Innovation

The hallmark of studying science has traditionally been the bold exploration of our natural world. But the regulations governing Life Science have created an increasingly risk-averse industry. Some pharmaceutical and biotech companies remain conservative about the technology they use to run their businesses to avoid potential non-compliance. It is no surprise that failure to adopt new technologies limits our ability to innovate.

However, just as transformation has accelerated in other industries, the recent Covid-19 pandemic has accelerated the adoption of cloud technologies by life sciences companies, pushing them to use electronic methods for innovative data management. Digitized and used. According to McKinsey, 16 of the top 20 pharmaceutical companies have mentioned cloud technology in recent reports and news releases.

Cloud content and governance platforms are highly sophisticated and can greatly improve data accessibility, reliability, and centralization. Additionally, the cloud streamlines corporate data as it is not stored in various locations. This gives you more flexibility to scale and automate without having to struggle with policies and rules around each data store. As a result, IT departments can easily manage all corporate assets and better mitigate ransomware risk, as long as the right content governance platform is in place.

The connected nature of biotechnology

While many biotech companies are small and outsource much of their clinical work to contract research organizations (CROs), working with a variety of software vendors has opened up an attack surface that cybercriminals can potentially exploit. is expanding. This makes it more likely that cybercriminals will find a way into sensitive systems and move laterally through networks undetected to find their intended targets.

Creating a security-focused culture

Cyber ​​attackers also tend to target the weakest link within an organization. Technology users are at the forefront, but IT security trained in understanding different types of threats, such as how to spot phishing emails, may not be specialists. Someone on the clinical team may not have the same understanding or knowledge. A role that helps protect the rest of your organization from threats. Perhaps they consider data protection and data governance to be outside their area of ​​expertise and not a priority.

This narrow view can lead to data breaches and data loss. Therefore, removing the knowledge barrier requires establishing a security-oriented culture. IT should be seen as a hard-working and trusted partner, and cybersecurity should be seen as a collective effort, not just an item.

Avoid ransomware threats

Ransomware attacks can negatively impact scientists and researchers, unnecessarily burdening important work. Suppose a sponsor does not have a secure collaboration her platform during a clinical trial and is faced with having to redo what a patient completed last week. This can lead to high participant dropout rates and significant delays. The costs of clinical trial delays can range from hundreds of thousands to millions of dollars every day. In fact, according to his IBM Security Report for 2022, the average total cost of a data breach in pharmaceuticals is his $5 million.

It is also important for life sciences companies to have disaster mitigation plans in case of natural or man-made events that impact their daily operations. Having the right backups and planning in place can greatly reduce downtime. In addition to disaster preparedness, there is corporate training. Employees and contractors should be trained to distinguish between legitimate emails and malicious spear-phishing emails, fostering a culture of security. They should know what to do if they suspect they have fallen prey to an attack. We also need to reassure you that reporting a breach is more important than hiding it and hoping no one will find out.

To reduce the risk of ransomware and thus reduce vulnerability to costly trial delays, life sciences organizations should prioritize data protection. Cyber ​​threats are prevalent and attacks can strike any organization at any time. Through informed preparation, advanced planning, and technology partnerships, life sciences companies can better defend against a wide range of cyberattacks, especially the highly costly ransomware threat.