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Reduce Security Risks in the Pharmaceutical Industry Using ...

Source: www.rsa.com
Topic: Pharmaceutical Industry

Sort Desciption: compress R&D cycles, accelerate time-to-market, and reduce costs, the pharmaceutical industry. is turning to web-enabled technologies in everything from ...

Content Inside: Reduce Security Risks in the Pharmaceutical Industry Using Database Encryption Executive Summary Doing business in the increasingly connected 21 st Century is presenting the pharmaceutical industry with some daunting challenges. Market forces and government regulations are pushing companies toward increasing levels of automation and information access. In order to compress R&D cycles, accelerate time-to-market, and reduce costs, the pharmaceutical industry is turning to web-enabled technologies in everything from research collaboration to on-line clinical trials. At the same time, requirements for information security and privacy continue to become more and more stringent. Protecting intellectual property, guarding the integrity of records, and maintaining the confi- dentiality of patient data is no longer a matter of keeping lips sealed and file cabinets secured. Today’s electronic information is under increasing attack from hackers, disgruntled employees, and other perpetrators of security breaches. 1 Also, new federal laws – principally the FDA’s 21 CFR Part 11 and the Health Insurance Portability and Accountability Act (HIPAA) – impose serious consequences on pharmaceutical companies that fail to protect information stored in electronic databases and accessed across private or public networks. According to AMR Research’s annual IT Spending Survey, 2 this new reality is reflected in IT budgets of pharmaceutical companies. Nearly two thirds of respondents said they planned to increase IT spending as a percentage of revenue (5% in 2002), and cited as one of the driving forces the need to comply with the security provisions of new government regulations. The pharmaceutical industry is affected most directly by Part 11. These rules were designed to prevent fraud while encouraging the use of electronic documents and electronic signatures to reduce the cost and streamline the process of developing, testing, and manufacturing new life- saving and life-en ...

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