(23) Cash flow from investing activities
Payments for investments in intangible assets included an upfront payment for the acquisition of rights to the strategic expansion of the neurology pipeline (see Note (19) “Other intangible assets”).
In particular, payments for investments in intangible assets in the previous year included payments to Debiopharm International SA, Switzerland, for the acquisition of the exclusive rights to the development and commercialization of the drug candidate xevinapant (see Note (7) “Collaboration and licensing agreements”) and payments for the acquisition of a right to fast-track U.S. FDA approval in the Healthcare business sector.
Payments for acquisitions less acquired cash and cash equivalents were primarily attributable to the acquisition of Exelead Inc., United States, M Chemicals Inc., Korea, and Erbi Biosystems Inc., United States (see Note (6) “Acquisitions and divestments”).
Net cash outflows for investments in financial assets amounting to € 364 million (2021: € 269 million) mainly resulted from short-term investments in securities and fixed-term deposits that did not meet the requirements for classification as cash and cash equivalents as well as investments in M Ventures portfolio companies.
Net cash inflows from the disposal of other financial assets amounted to € 219 million (2021: € 69 million) and essentially related to the sale of short-term investments in securities and the termination of fixed-term deposits.
The payments made and received from the acquisition and the disposal of other non-financial assets resulted from the short-term investment of available funds.