increased shipments associated with the Global Alliance for Vaccines and Immunization (GAVI) as well as the timing of government purchases in various emerging markets compared with 2013.

Foreign exchange had an unfavorable impact of 2% on Vaccines revenues in 2014 compared to 2013. Total Vaccines revenues from emerging markets were $1.0 billion in 2014.

Global Oncology Revenues increased 12% to $2,218 million in 2014, compared to $1,978 million in 2013, reflecting an increase in operational revenues of 14% in 2014, due to continued strong underlying demand for recent product launches, Xalkori and Inlyta globally, as well as growth from Bosulif, primarily in the U.S.

Foreign exchange had an unfavorable impact of 2% on Oncology revenues in 2014 compared to the same period in 2013. Total Oncology revenues from emerging markets were $375 million in 2014.

Consumer Healthcare Revenues increased 3% to $3,446 million in 2014, compared to $3,342 million in 2013, reflecting an increase in operational revenues of 5% in 2014, primarily due to the launch of Nexium 24HR in the U.S. in late-May 2014 and growth of vitamin supplement products in emerging markets, partially offset by a decrease in revenues for respiratory products in the U.S. and Canada due to a less severe cold and flu incidence, and for Advil due to the 2013 launch of Advil Film-Coated, which triggered increased retail purchases in the prior year.

Foreign exchange had an unfavorable impact of 2% on Consumer Healthcare revenues in 2014, compared to 2013.

Total Consumer Healthcare revenues from emerging markets were $942 million in 2014.

• Cost of sales increased 8% to $1,991 million in 2014, compared to $1,843 million in 2013, primarily due to an increase in sales volumes, partially offset by favorable foreign exchange.

• Selling informational and administrative expenses increased 10% in 2014, compared to 2013, primarily driven by Consumer Healthcare expenses incurred to support the launch of Nexium 24HR in the U.S., Prevnar 13 adult investment, as well as the launch and pre-launch marketing expenses for Trumenba (meningitis B vaccine) and Ibrance (palbociclib).

• Research and development expenses increased 1% in 2014, compared to 2013, reflecting increased investment in Ibrance (palbociclib) and our vaccines portfolio (including Trumenba), as well as costs associated with our anti-PD-L1 alliance with Merck KGaA, partially offset by lower costs for certain oncology programs.

2013 vs. 2012:

• Revenues increased 3% in 2013, compared to the same periods in 2012.

Global Vaccines Revenues decreased 5% to $3,965 million in 2013, compared to $4,167 million in 2012, primarily due to lower revenues from Prevnar as a result of decreased government purchases in the U.S.

Total Vaccines revenues from emerging markets were $878 million in 2013.

Global Oncology Revenues increased 23% to $1,978 million in 2013, compared to $1,613 million in the same period in 2012, due to new product growth from Inlyta and Xalkori.

Total Oncology revenues from emerging markets were $363 million in 2013.

Consumer Healthcare Revenues increased 4% to $3,342 million in 2013, compared to $3,212 million in 2012,