Pharmaceutical Industry in the Philippines

The Philippines’ pharmaceutical industry, which focuses on the development, manufacturing, and distribution of medications, is vital to the country’s healthcare system. It is highlighted by a mix of domestic and international businesses that meet the increasing demand for easily accessible and reasonably priced healthcare colutions. The industry puts high priority on research and development (R&D) in an attempt to innovate and enhance patients’ quality of life while overcoming regulatory challenges and guaranteeing adherence to global standards.

The Philippines’ largest pharmaceutical company is United Laboratories, Inc. (Unilab), which was established in 1945. Leading the industry with a wide range of both, prescription and over-the-counter medications, Unilab is recognized for its dedication to quality and innovation, significantly enhancing the country’s access to healthcare.

Why is Cybersecurity Crucial in Pharmaceuticals?

Cybersecurity is a must in the pharmaceutical industry, as there is an ongoing increase in medical gadgets and technologies. These devices contain sensitive data that hold significant monetary and intellectual value, including information about both the patient and the institution. Thus, due to this, cybersecurity in the pharmaceutical industry is a crucial and non-negotiable aspect, particularly to avoid the loss and damage of intellectual property. In addition, there are several threats that can possibly damage the reputation of pharmaceutical companies, including Data Breaches and Ransomware Attacks, Phishing, and Insider Threats. These threats are a high risk for the pharmaceutical industry as they can get individuals confidential information and possibly reveal these to non authorized people. (freyr, 2024).

In conclusion, the rise of medical devices and technologies in the pharmaceutical industry has made cybersecurity essential to protect sensitive data and intellectual property. Pharmaceutical companies face significant threats from data breaches, ransomware attacks, phishing, and insider threats, all of which can compromise data integrity and trust. Compliance with regulatory requirements is also crucial, as lapses can result in penalties and brand reputation damage.

Cybersecurity Enhancements for Pharmaceuticals

The pharmaceutical sector is increasingly evolving digitally, posing cybersecurity risks. Protecting sensitive data is crucial, as high-profile breaches highlight the need for preventative steps. Brad Gallagher from Barclay Damon discusses the cybersecurity landscape and how firms may reduce risks while innovating.

In the pharmaceutical industry, combining innovation with data protection is critical. Brad Gllagher emphasizes the importance of a solid data governance structure and the early adoption of security solutions like encryption and multifactor authentication.

While new legislation increases compliance burdens, they cannot completely avoid breaches. The persistent threats and human mistake highlight the significance of continual attention and personnel training in protecting data successfully. (Edwards, 2024).

Incidents involving Pharmaceuticals

The cyberattack on the European Medicines Agency (EMA) in December 2020, which targeted data relating to the Pfizer/BioNTech COVID-19 vaccine, demonstrates substantial vulnerabilities in the pharmaceutical industry. The intrusion resulted in the loss of sensitive data, including as regulatory submissions and peer review comments, raising major concerns about the protection of essential health information.

To properly address these vulnerabilities, SecurityScorecard provides a robust solution that includes a variety of elements meant to improve pharmaceutical cybersecurity. This platform delivers comprehensive security evaluations that evaluate an organization’s cybersecurity posture, allowing businesses to detect vulnerabilities and prioritize remediation activities. Furthermore, SecurityScorecard provides ongoing monitoring of third-party vendors, ensuring that all partners follow appropriate security policies. The platform also provides threat intelligence capabilities, which enable firms to keep updated about developing threats and vulnerabilities relevant to their industry.

Hence, pharmaceutical firms who use SecurityScorecard’s advanced capabilities can greatly strengthen their resilience to cyber threats, protect critical information, and retain the integrity of their operations in an increasingly digital landscape. (Porter, 2021).

Cybersecurity Posture of the Philippine Pharmaceuticals IndustryA Six-Month Performance Analysis

This graph compares the cybersecurity posture of several Pharmaceutical industries over six months, with grades from A (strong) to F (weak).Overall Trends:
The purpose of this chart is to understand the overall performance of Pascuallab, Aspen, Unilab, Pfizer, and Vendizpharma over the past six months (August to January).
Among all five Pharmaceutical industries, Aspen is the only company that faced a consistent F-rating during these six months.

• Top Performers:
  Pfizer (Brown): The best and consistent performer over the six-month period. Remains in the A-range with small fluctuations.
  Pascuallab (Blue): Stable performance with no drastic fluctuations, being a big competition for Pfizer. Closer to a B-rating.
• Mid-Performers:
  Unilab (Teal): Started with a B-rating and maintained its scoring until October. There was a seen drop in November that almost hit the C-range, however, they were able to recover by January and got back to the B-level.
  Vendizpharma (Pink): Got to reach a B-rating as they were able to show steady improvement from October onwards.
• Consistent Lower Scores:
  Aspen (Purple): The weakest performer out of all five companies, as they did not show any improvement at all. Remained in the F-range the whole period.
• Monthly Variations:
  While Pfizer continued to be top performer, some industries, like Vendizpharma experienced only upward movements, possibly due to specific events or updates impacting their scores, while Unilab and Pascuallab had to go through sudden declines, but were able to recover immediately.
  Aspen, however, is the only company facing a consistent F-rating with no sign of recovery at all.

Importance of Practicing Cybersecurity Hygiene in the Pharmaceutical Industry

To conclude, the Data Privacy Act of 2012 (DPA) is critical in the pharmaceutical industry due to the sensitivity of patient data. With the proliferation of medical devices and technology, cybersecurity hygiene is critical for safeguarding against threats such as data breaches and ransomware, which can harm a company’s reputation.

The Food and Drug Administration (FDA) is significant because it regulates the pharmaceutical industry and ensures compliance with data privacy regulations. The FDA can provide guidance on proper data management and security procedures, assisting businesses in protecting sensitive information that should not be disclosed.

As the sector evolves, strong cybersecurity measures are required to protect intellectual property and comply with legislation. Despite legislative measures, breaches can still occur, therefore ongoing training and attention to cybersecurity standards is required. The DPA, together with FDA regulation, strengthens the industry’s commitment to data protection and privacy. Furthermore, using tools such as SecurityScorecard can help improve security posture by offering insights on vulnerabilities and risk management.