Website hacked, what's this code?

Hey,

today I found out my website got hacked and that in every PHP file in my folders this code has been inserted: https://pastebin.com/bwkZJUUt

Since I wasn’t actively using my blog lately I just deleted everything but I was wondering what this code does?

What appeared to happen was that whatever file/site I tried to open it just gave me a blank white screen. The source-code showed some hidden DIVs with 2 links to some websites which I did not click on. It also had strange text like “entertainment 2014 canada pharmacy” in it.

Has anyone ever seen something like this? A hack with hidden ads? I wonder what the purpose of something like this could be.

cheers
Matthias