Why don't you look up the form 10 filings for the CSE Pharmather.
"Total aggregate consideration in Canadian dollars: Upfront USD$150,00 (approx. CA$200,000), possible Sales milestone of up to USD $25,000,000 (approx.CA$35,000,000), calculated on the basis of estimated potential sales that may be achieved during the term of the agreement, ongoing Profit-sharing with no cap for term."
There is no mention of them determining the royalties later. The amount has already been determined. What they don't know, is how large the sales will be. I'm sure they could have received more upfront, with less on profit sharing, but he likely took higher royalties with less upfront.
Caplin (India Based) is a 155 billion dollar company with a subsidiary Caplin Steriles here in the US. They appear to be very aggressive, and they also have outreach to many countries worldwide. Pharmather's agreement is for the US only, I'm sure other territorial deals will be forthcoming, as more foreign regulatory approvals occur.
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