Due to the virus, Merck received a reduced third-quarter revenue due to the virus causing temporary production shutdown and lost sales in certain markets.
A prominent News source has reported that the Global pharma giant Merck was still suffering the effects of the global Petya/NotPetya cyberattack that it fell victim to in June 2017. Unfortunately, Merck wasn’t the only company affected and the attack did manage to devastate numerous industries around the globe.
Merck has announced its third-quarter financial results that its sales were down by approximately $240 million after it borrowed the GARDASIL vaccine from the Government (U.S. Centers for Disease Control).
When the company fell victim to Petya, it experienced a temporary production shutdown and failed to produce enough stock to meet the demand. Also, the overall demand was reported to be increasing beyond company’s expectations.
Merck’s profits also took a hit of approximately $135 million which the company lost in sales in some markets. This loss and its effects were directly related to the cyberattack. Due to the timing of the shipments, company’s sales during the third quarter were also found to be down by about $150 million compared with the last year. On a global scale, the sales of the company were $10.3 billion for the said quarter which is a 2 percent decrease from 2016.
Merck was among the many global businesses affected by the Petya wiper malware. It was reported that the virus, at first simply looked like a standard ransomware attack, but later it transformed into something more malicious. The experts found that the actual purpose of the virus was actually to lock the companies out of their systems and destroy their data. It was also reported that one unfortunate health system that fell victim to the virus had to replace its entire IT network. The losses were immense. Also, FedEx and other affected companies said that the virus also wreaked permanent damage to their systems too.
