15 of 53

7. Net sales

Net sales are derived primarily from product deliveries. Total reported net sales increased by €533 million or 1.6% from 2007 to €32,918 million. While volumes increased by €898 million, or 2.8%, adverse shifts in exchange rates trimmed sales by €1,086 million, or 3.4%. Changes in selling prices contributed €534 million, or 1.6%, to the growth in business. Portfolio changes boosted sales by €187 million, or 0.6%. Portfolio changes led to the following changes in sales compared with the previous year:

	2008
	€ million
Acquisitions
Sagmel Inc. (OTC business)	54
Possis Medical Inc.	41
BaySystems B.V.	30
Others	141
	266
Divestitures
Hennecke GmbH	(61)
Others	(18 )
	(79 )
Net effect of portfolio changes	187