IIRC the royalty is 12% of global sales of Apabetalone for all (non-cancer?) indications.  Welcome confirmation or clarification of any of this from the Zenith holders.

I have wondered if the substantial size of this royalty right off the top is perceived by BP as a big negative wrt to M&A.

Maybe that is why Don is not considering selling additional royalties on apabetalone.  Maybe its future sales are already heavily "leeched".