Merck Posts Excellent Quarterly Results But Issues Profit Warning from June’s Cyber Attack

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Image via MONTCO.Today file photo.

Merck has reported excellent quarterly results with profits beating analysts’ estimates, but the company qualified the good news with a future profits warning, write Michael Erman and Jim Finkle for Reuters.

Merck was forced to stop production when it was the target of an international cyber-attack last month. The drug and vaccine maker which has a large research and manufacturing campus in West Point, said that it has not yet determined the full extent of the hit as it is currently working on restoring production.


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However, the company stressed it is confident there will not be any disruptions to its supply of life-saving drugs such as Keytruda, Januvia, and Zepatier.

“Full recovery from the cyber-attack will take some time, but we are making steady progress,” said Chief Executive, Ken Frazier.

Merck is the latest corporation hit by the NotPetya attack which has also affected FedEx and Moller-Maersk. According to Joshua Corman, director of the Cyber Statecraft Initiative at the Atlantic Council, this attack is particularly troubling given Merck’s life-saving work.

“This is serious. It affects human lives,” said Corman. “Imagine if the supply of something like H5N1 influenza vaccine was affected when we needed them.”

Read more about the cyber-attack at Reuters by clicking here.

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