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One of the most significant security challenges faced by the Pharma industry is the protection of intellectual property. The research and development of new drugs can take years and cost billions of dollars, making it a prime target for theft by competitors or malicious actors. To protect against such threats, Pharma companies must implement strict access controls, encryption, and physical security measures such as video surveillance and alarm systems.
Another challenge faced by the Pharma industry is the protection of patient data. Medical records contain sensitive information such as personal identification, health history, and medication prescriptions. The industry must comply with strict regulations such as the Health Insurance Portability and Accountability Act (HIPAA) to ensure the confidentiality, integrity, and availability of patient data. To comply with these regulations, Pharma companies must implement strict access controls, encryption, and multi-factor authentication to protect against data breaches.