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Dec 2016 - Business Strategy - Doc # US42057916

Business Strategy: Cybersecurity in Life Science R&D — Common Issues and Key Differentiators

By: Alan S. Louie, Ph.D.Research Director, Life Sciences

Abstract

This IDC Health Insights report highlights analyst insights on current leading cybersecurity strategies and focuses on the life science industry from an R&D perspective as well as life science company expectations for cybersecurity efforts in the future. While it is clear that cybersecurity is a global issue and not limited to any one industry or operational area (e.g., R&D), the life science industry's approach to cybersecurity includes both industry-agnostic and industry-specific elements that may require a differential response. As life science companies (and particularly R&D) consider efforts designed to thwart current and future cyberattacks, it is important to realize that cybersecurity threats are much more than external cyberattacks but also include additional threats to the organization.

"With the potential of a cyberattack to inflict significant operational disruption and/or business damage, it is important for all life science companies, both large and small, to have a clear cybersecurity strategy in place regardless of whether efforts are performed internally or with external partners. As a broad category with multiple diverse elements, threats from cybersecurity can imperil the sustainability of the business itself and cybersecurity should be considered as a core element in a company's overall risk management strategy," says Alan S. Louie, research director, IDC Health Insights.


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