Dietary Supplement and Nutraceutical

The average cost of a data breach is over $4M, and yet, nearly 67% of pharmaceutical firms have experienced significant data breaches. With vast amounts of data, dietary and nutraceutical companies face intense vulnerabilities. From notifying customers to providing credit monitoring, the risk is high. What’s more, is that cybersecurity threats tend to keep pace with innovative technologies.

Like most life science companies, Dietary and Nutraceutical companies establish contracts with suppliers, manufacturers, and researchers worldwide. The US makes up only 45% of the global pharmaceutical market, after all. However, these professional relationships are delicate. Supply chains that stretch across the ocean can quickly disintegrate because of a natural catastrophe or global epidemic. Finding another subcontractor could prove to be time-consuming and costly.

Mergers and acquisitions (M&A) are a staple in any industry, but in the life science space, they tend to get complicated quickly. Various product development and patents muddy up the pipelines, and multiple subsidiaries in one organization make M&A a tricky process. To protect the transaction, it’s essential to identify potential problems while safeguarding company assets.

If a product fails to produce the expected results, it could mean a massive loss for a Dietary and Nutraceutical company. That said, around nine in every ten drug developments aren’t ever approved. When new products do hit the market, only 10% of them are successful. From advertisement to usage warnings, product failure presents a significant exposure in this industry.