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Cyber Risk Assessment In The Pharmaceutical Industry: Vulnerabilities, Threats, And Global Response Strategies

Author

Listed:
  • 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)

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.

Suggested Citation

  • Pircalaboiu Alexandra & Cazoni Camelia & Ceausescu Casandra Elena & Petre Bogdan & Dobrea Catalin Razvan, 2024. "Cyber Risk Assessment In The Pharmaceutical Industry: Vulnerabilities, Threats, And Global Response Strategies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 307-319, October.
    • Handle: RePEc:cbu:jrnlec:y:2024:v:5:p:307-319
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    References listed on IDEAS

    as
    1. Frank Cremer & Barry Sheehan & Michael Fortmann & Arash N. Kia & Martin Mullins & Finbarr Murphy & Stefan Materne, 2022. "Cyber risk and cybersecurity: a systematic review of data availability," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(3), pages 698-736, July.
    Full references (including those not matched with items on IDEAS)

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