2012 Annual Report  RESULTS OF OPERATIONS  Net Sales  The composition of the changes in net sales was as follows:  The change in U.S. net sales in 2012 attributed to volume reflects the recent exclusivity losses of  Plavix  and  Avapro / Avalide , partially  offset by increased demand for most key products and the addition of  Byetta ,  Bydureon , and  Symlin  following the completion of our  acquisition of Amylin ($262 million). The change in U.S. net sales in 2011 attributed to volume reflects the launch of  Yervoy  and  increased demand for several key products partially offset by decreased prescription demand for  Avapro / Avalide  and  Plavix . The  change in U.S. net sales attributed to price in both periods was a result of higher average net selling prices for   and  Abilify partially offset by the reduction in our contractual share of  Abilify  net sales from 58% to 53.5% in 2011 and a further reduction to  51.5% in 2012, and higher rebates and discounts resulting from U.S. healthcare reform legislation in 2011. See “—Key Products” for  further discussion of sales by key product.  Net sales in Europe decreased in 2012 primarily due to unfavorable foreign exchange and lower sales of certain mature brands from  divestitures and generic competition as well as generic competition for  Plavix  and  Avapro / Avalide  partially offset by sales growth of  most key products. Net sales in Europe increased in 2011 as favorable foreign exchange and sales growth of most key products more  than offset the previously mentioned lower sales of certain mature brands and generic competition for  Plavix  and  Avapro / Avalide . Net  sales in both periods were negatively impacted by continuing fiscal challenges in many European countries as healthcare payers,  including government agencies, have reduced and are expected to continue to reduce the cost of healthcare through actions that  directly or indirectly impose additional price reductions. These measures include, but are not limited to, mandatory discounts, rebates,  other price reductions and other restrictive measures.  Net sales in the Rest of the World decreased in 2012 as growth in certain key products in Japan, China, and South Korea was more  than offset by generic competition for  Plavix  and  Avapro / Avalide,  the timing of government purchases in certain countries and lower  sales of mature brands from generic competition and divestitures. Net sales in the Rest of the World increased in 2011 primarily due  to growth in certain key products in Japan, China and South Korea and favorable foreign exchange, which were partially offset by  generic competition for  Avapro / Avalide  and lower sales of mature brands from generic competition and divestitures.  Other net sales increased in 2012 because of enhanced royalty-related revenues and higher sales attributed to active pharmaceutical  ingredients supply agreements resulting from recent divestitures of manufacturing facilities and restructured alliance agreements.  Other net sales are expected to continue to increase in 2013 as a result of higher royalties and alliance revenue attributed to the  restructured Sanofi agreement and new mature/over-the-counter brands collaborative agreements.  No single country outside the U.S. contributed more than 10% of our total net sales in 2012, 2011 or 2010.  In general, our business is not seasonal. For information on U.S. pharmaceutical prescriber demand, reference is made to the table  within “—Estimated End-User Demand” below, which sets forth a comparison of changes in net sales to the estimated total  prescription growth (for both retail and mail order customers) for certain of our key products. U.S. and non-U.S. net sales are  categorized based upon the location of the customer.  7  Year Ended December 31, 2012 vs. 2011  2011 vs. 2010  Net Sales Analysis of % Change  Analysis of % Change  Total Foreign  Total  Foreign  Dollars in Millions 2012  2011 2010 Change Volume Price  Exchange  Change  Volume Price  Exchange United States $^{(a)}$  $ 10,384  $ 14,039 $ 12,800 (26)% (30)% 4 %  - 10 %  3 % 7 %  -  Europe$^{(b)}$   3,706   3,879  3,672   (4)% 6 %  (3)%  (7)%  6 5  (4)% 5 % Rest of the World$^{(c) }$   3,204   3,237  2,900   (1)% 2  (1)%  (2)%  12 %  8 %  (2)% 6 Other$^{(d) }$   327   89  112  ** N/A N/A  - (21)%  N/A N/A  -  Total $ 17,621  $ 21,244 $ 19,484 (17)% (17)% 2 %  (2)%  9 %  4 % 3 % 2 % (a) Includes Puerto Rico.  (b) Includes Russia and Turkey.  (c) Includes Japan, China, Canada, Australia and Brazil, among other countries.  (d) Includes royalty-related revenues and sales attributed to supply agreements.  **  Change in excess of 100%. 