my thinking also, page-7

Treasure. I know this is a late reaction to your posting. While I totally agree a standard royalty deal would be a lot simpler; I also think they didn't go down that route due to uncertainties around the real costs of manufacture at scale. If actual costs higher than predicted, then DRL would lose. If costs lower than predicted, then ACL would lose. There was a hint late last year/earlier this year, there had been some manufacturing issues. And then, a later one saying they'd improved manufacturing efficiencies. Perhaps if the process is now fully bedded-down, it may be in both parties interests (certainly ACLs) to go for a simpler royalty arrangement. For Europe, where sales probably won't start until abt end next calendar year, it's a royalty arrangement.