7. Net sales

Net sales are derived primarily from product deliveries. Total reported net sales declined by €1,750 million or 5.3% from 2008 to €31,168 million in 2009. While the decrease in volumes diminished sales by €948 million, or 2.9%, favorable shifts in exchange rates had a positive effect of €201 million, or 0.6%. Changes in selling prices reduced the net sales by €943 million, or 2.8%. Portfolio changes further diminished sales by €60 million, or 0.2%.

Portfolio changes led to the following changes in sales compared with the previous year:

Portfolio-Related Changes in Sales	[Table 4.28]
	2009
	€ million
Acquisitions
Sagmel, Inc. (OTC business)	28
Possis Medical, Inc.	14
BaySystems B.V.	19
Others	27
	88
Divestitures
Oncology portfolio	(106)
Justesa Imagen, S. A.	(16)
Others	(26)
	(148)
Net effect of portfolio changes	(60)

Breakdowns of net sales by segment and by region are given in the table in Note [1].

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