BrandShield signs cybersecurity deal with Bristol Myers Squibb

Cybersecurity company BrandShield Systems has signed a contract to provide services to US-based biopharmaceutical giant Bristol Myers Squibb, it announced on Monday.

The AIM-traded firm said that under the terms of the contract, it would provide a “comprehensive online brand protection” and anti-counterfeiting solution.

It said it would protect Bristol Myers Squibb's and its subsidiary Celgene's major brands against fraudulent online activity including, but not limited to, the sale of counterfeit drugs on online marketplaces, rogue websites, rogue online pharmacies, impersonation on social media, phishing attempts and trademark infringements.

“We are extremely happy to have Bristol Myers Squibb joining as a high profile customer,” said BrandShield chief executive officer Yoav Keren.

“Pharmaceutical companies are heavily regulated to ensure they are compliant with state and federal laws all around the globe.”

Keren explained that the “digital age” had brought new risks for the industry, as fake drug sellers exploited easy-to-use platforms to spread products.

“Threat mitigation and brand protection online is increasingly becoming a must have capability.

“The contract is further evidence of BrandShield's relevance in a range of sectors that is only becoming more relevant in the recent huge expansion of e-commerce.”

At 1559 GMT, shares in BrandShield Systems were up 1.9% at 24.76p.