Financial Statements

7. Net sales

Sales revenues are derived primarily from product deliveries. Total reported net sales increased by €3,429 million or 11.8 percent from 2006 to €32,385 million. While volumes increased by €1,617 million, or 5.6 percent, adverse shifts in exchange rates trimmed sales by €1,042 million, or 3.6 percent. Changes in selling prices contributed €147 million, or 0.5 percent, to the growth in business. Portfolio changes boosted sales by €2,707 million, or 9.3 percent.

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

	2007
€ million
Acquisitions
Schering	2,755
Ure-Tech	20
BaySystems	18
Other	22
	2,815
Divestitures
Cessation of plasma distribution	(107)
CropScience active ingredients	(39)
Sales to divested businesses (primarily to the diagnostics business)	38
	(108)
Net effect of portfolio changes	2,707

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

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