increased 1% in 2014 compared to 2013, primarily due to the impact of losses of exclusivity and an unfavorable change in product mix. The 3% decrease in Cost of sales is primarily driven by favorable foreign exchange.

• Selling, informational and administrative expenses decreased 17% in 2014, compared to 2013, due to lower expenses for field force and marketing expenses, reflecting the benefits of cost-reduction and productivity initiatives.

• Research and development expenses decreased 11% in 2014 compared to 2013, due to lower clinical trial expenses and the benefits from cost-reduction and productivity initiatives, partially offset by increased spending on our biosimilars development programs.

2013 vs. 2012:

• Revenues decreased 13%, to $27,619 million in 2013, compared to $31,678 million in 2012, primarily due to:

the continued erosion of branded Lipitor in the U.S., developed Europe and certain other developed markets (approximately $1.7 billion in 2013);

the loss of exclusivity of Geodon and Revatio in the U.S. and Xalabrands in developed Europe and Australia (down approximately $514 million in 2013);

lower Alliance revenues from Spiriva (down approximately $475 million in 2013), reflecting the ongoing expiration of the Spiriva collaboration in certain countries, and Aricept (down approximately $395 million), due to loss of exclusivity in many major European markets;

lower revenues from Viagra (down approximately $108 million in 2013) primarily due to loss of exclusivity in most major markets in Europe;

lower revenues from Zosyn (down approximately $55 million in 2013); and

lower revenues from generic atorvastatin (approximately $145 million), partially offset by:

the strong operational performance of Lyrica, Celebrex and Pristiq (up approximately $1.7 billion in developed markets); and

the contribution from the collaboration with Mylan Inc. to market generic drugs in Japan. Total GEP revenues from emerging markets were $7.4 billion in 2013.

• Cost of sales as a percentage of Revenues increased 2% in 2013 compared to 2012, due to the impact of product losses of exclusivity and an unfavorable change in product mix.

• Selling, informational and administrative expenses decreased 18% in 2013, compared to 2012, due to lower expenses for field force and marketing expenses, reflecting the benefits of cost-reduction and productivity initiatives.

• Research and development expenses decreased 17% in 2013 compared to 2012, due to lower clinical trial expenses and the benefits from cost-reduction and productivity initiatives.

• The favorable change in Other (income)/deductions––net in 2013 primarily reflects income derived from the sale of product rights.

ANALYSIS OF THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Changes in the components of Accumulated other comprehensive loss reflect the following: 2014

• ForForeigncurrencytranslationadjustments,reflectsprimarilytheweakeningoftheeuroagainsttheU.Sdollar,and,toalesser,extentthe weakening of the Japanese yen, Canadian dollar, Brazilian real and U.K. pound against the U.S dollar. Also, includes the reclassification of amounts associated with legal entity dispositions into