CYBER RISK ASSESSMENT IN THE PHARMACEUTICAL INDUSTRY: VULNERABILITIES, THREATS, AND GLOBAL RESPONSE STRATEGIES

Pircalaboiu Alexandra, Cazoni Camelia, Ceausescu Casandra Elena, Petre Bogdan and Dobrea Catalin Razvan
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Pircalaboiu Alexandra: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Cazoni Camelia: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Ceausescu Casandra Elena: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Petre Bogdan: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Dobrea Catalin Razvan: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES

Annals - Economy Series, 2024, vol. 5, 307-319

Abstract: This paper is a synthesis of cyberattacks and remediation measures at several major pharmaceutical companies, based on publicly available data. It examines notable incidents such as ransomware attacks on Merck, spear-phishing on Pfizer, and cyber espionage targeting Moderna, highlighting the operational disruptions, data breaches, and financial impacts these companies faced. The paper also evaluates the remediation strategies implemented, including enhanced cybersecurity infrastructure, data encryption, employee training, and operational continuity plans. The findings underscore the importance of a comprehensive and proactive approach to cybersecurity in mitigating the risks and minimizing the impact of future attacks on the pharmaceutical sector.

Keywords: cyber attacks; risk management; pharmaceutical industry (search for similar items in EconPapers)
Date: 2024
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