Todays conference call, page-37

If that's the case and allowing for currency conversion, that gives OBJ approx. 1.5 million over four years for royalties only. This average per product figure in the future will also slightly drop if volumes for Olay outstrip SK-II, as is the current case. Further down the track, Personalisation should very much attract a higher royalty rate, as Jeff indicated they are currently in negotiations with P&G for higher 2nd tech rates (fair enough, considering OBJ took the tech much further on their own). The future is not all grimm, but there is no denying that the past 4 years of royalties have been less than ordinary.