todays trade, page-115

If the royalty for POC1 is anything like 5% then we should be disappointed because it means it will only be applied to a small distribution product - maybe 5% of $200m potential sales.

If M&G is going to be used in billion dollar products I can't see more than 1-3%

It's not the size of the royalty that attracts me with POC1 it's the potential global dominance of a genuine multi use POC device. It is theoretically feasible that every doctors surgery, ambulance, school, university, business even household with potential health issues could own one. Again in theory these could be linked to mobile devices and remotely diagnosed etc so 1% may be the royalty but on a figure of 1b and then 3b and then 5b etc etc

With the Dutch it is important to get it into their new and novel device - they will mobilise a distribution network like we will never have access to and sales will ramp up quickly. With the likes of BBI it is turbo charging their existing products - less opportunity for sales growth other than industry norm so higher slice of the pie is what you want.