RB Says Petya Cyberattack Froze Shipments, Could Cost £100M
Beiersdorf and Merck also were impacted by the June 27 malware attack that rocked the globe, but RB's the only one of the three that's in any way quantified the hit it sustained. The blow comes at an unfortunate time for the UK-based company, whose first-quarter performance was its weakest in 15 years.
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Following cyberattack, chief information officer Mukesh Rathi said Dr Reddy's was “anticipating all services to be up within 24 hours,” adding that “we do not foresee any major impact on our operations due to this incident.”
A "technical problem" interrupted infant formula production at firm's Netherlands plant during third quarter, causing a 8% dive in its revenues from Enfamil and other brand formulas. The problem has been corrected but revenues will be slowed during the current quarter and likely into early 2019. But analysts say the imapct could be deeper impact because it's the fourth problems since 2011 RB should have avoided.
Reckitt At '2.0' On Nutrition Market Expansion But Question No. 1 Remains, Potential Pfizer Consumer Bid?
UK firm sees acquisitions of Mead Johnson Nutrition and the Schiff brand as major milestones in its trajectory as a consumer health market competitor, but market analysts say both would be rendered comparatively minor moves if it makes an offer to acquire Pfizer's consumer products business. Mead Johnson's Enfamil NeuroPro infant formula line extension formulated with "milk fat globule membrane" and DHA should be available in US in March or April.