Operating Assets, Liabilities, and Contingent Liabilities

(23) Cash flow from investing activities

Payments for investments in intangible assets included a low-triple-digit million-euro upfront payment in connection with the in-licensing agreement with Jiangsu Hengrui Pharmaceuticals Co. Ltd., China, and a mid-double-digit million-euro upfront payment in connection with the in-licensing agreement with Abbisko Therapeutics Co. Ltd., China (see Note (7) “Collaboration and licensing agreements”), both of which were concluded in fiscal 2023.

Payments from the disposal of intangible assets in the previous year primarily resulted from the disposal of the rights to a non-strategic brand in the Healthcare business sector and a portfolio of licenses and patents in the Electronics business sector.

Payments for acquisitions less acquired cash and cash equivalents were primarily attributable to the acquisition of Mirus Bio LLC, United States, Unity-SC SAS, France, and Hub Organoids Holding B.V., Netherlands (see Note (6) “Acquisitions and divestments”).

Net cash outflows for investments in other assets mainly resulted from short-term investments in term deposits that did not meet the requirements for classification as cash and cash equivalents and from the short-term investment of available funds in structured products based on marketable greenhouse gas emission certificates.

Net cash inflows from the disposal of other assets primarily resulted from repayments of short-term investments in securities, term deposits and structured products based on marketable greenhouse gas emission certificates. In the previous year, net cash inflows from the disposal of other assets also included payments received from contingent consideration.