Zoom- I am coming up with same as you- $3M per quarter on Seroquel. Maybe a little higher but lots of moving parts... We will know more after Q2 results. All that being said, Q3 and Q4 profitable but 2017 will show a very small loss of around $1M. 2018 should show decent profit!
There is one major omitted calculator in your figuring... we'll use your figures and apply that calculator to see what really happens using your figures.
IPCI's royalty %age on Focalin is around 5% to 10%.
IPCI's royalty %age on Seroquel is probably around 30% to 40%.
So... on the minimum... if Focalin royalty now 10% versus Seroquel 30% then that calculating factor would be your $1.5 million per quarter X 3 or $4.5 million per quarter.
And... on the maximum... if Focalin royalty now 5% versus Seroquel 40% then that calculating factor would be your $1.5 million per quarter X 8 or $12 million per quarter.
Suddenly looks quite different than your figuring... but it's your figures with the one element you oversaw... and I certainly expect Seroquel royalty %age to be a minimum 30% to possibly 50%.
I think the biggest unknown in all this figuring is whether MNK is as adapt at capturing market share as PAR has been.
ps - I would cut these figures in half as PAR has I believe 34% market share on Focalin... the best I would hope for MNK with Seroquel is 16%, which is the fair share since there are going to be 6 distributors... so far.