Merck attributes $135M in lost Q3 sales to NotPetya cyberattack

Merck & Co. released its third quarter earnings results Oct. 27. The company posted $10.32 billion in sales, down 2 percent from the $10.54 billion it reported during the same period last year.

The company attributed an estimated $135 million in lost sales to June's NotPetya cyberattack, which temporarily led Merck to halt drug production. Remediation costs related to the cyberattack also contributed to the company's $2.4 billion in marketing and administrative expenses, a similar expense to the $2.39 billion Merk reported during the third quarter of 2016.

The worldwide cyberattack NotPetya infected computer systems in more than 60 countries June 27. Merck was the first major U.S. company to acknowledge NotPetya had compromised its computer network, which it confirmed via Twitter June 27.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars