Pharmaceutical Industry Faces Revenue Losses and Cybersecurity Risks Due to Outdated Data Systems

Pharmaceutical manufacturers face significant challenges stemming from outdated data systems, information silos, misapplied discounts, and increasing cybersecurity threats. These issues are contributing to lost revenue, heightened risks of third-party security breaches, and potential impacts on patient care. Jim Hundemer, Chief Information Security Officer (CISO), and Sudhakar Velamoor, Chief Technology Officer (CTO) at Kalderos, highlighted these concerns in a recent discussion about the hidden costs associated with fragmented data management within the industry.

Hundemer and Velamoor emphasized that reliance on legacy systems and siloed information creates inefficiencies that can lead to financial losses for manufacturers. Misapplied discounts further compound these problems by eroding profitability. Additionally, they noted that vulnerabilities in outdated systems increase exposure to cybersecurity risks, including breaches involving third-party vendors. These challenges not only affect operational performance but also have downstream implications for patient care by potentially disrupting access to medications or services. The experts will delve deeper into these topics during an upcoming webinar scheduled for April 23, 2025, titled “The Hidden Costs of Data Silos: Why Data Security & Architecture are Critical.”

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Source: GO-AI-ne1

Date: April 11, 2025

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Author

Mark Chiang