@parkhi_nazar – Appreciate the number-crunching man 
Few things to keep in mind
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I think royalty here is bound to be in the high teens on par with orphan drugs, first-in-class drugs (BLE acknowledgement and higher breakpoint point than Cefepime points in this direction) and highly specialised drugs with a small target market.
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If drug is manufactured and marketed by another party, along with royalty there is generally a one-time upfront licensing fee which brings in substantial value, alongside the DCF from royalty
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The market size of WCK-5222 may have gone up after the higher breakpoint since its understood now that its a lot safer to use without risk of resistance (relative). Though it might be early, we may have to compare market size of WCK-5222 with carbapenems ($4b in sales) instead of with Avycaz (already doing close to $1b in sales)
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The way WCK-6777 (Ertapenem+Zidebactam) works is fairly similar with Zidebactam functioning as BLE and lowering the MIC of Ertapenem.
The MICs are so low even where Ertapenem is resistant.
You can see at what MIC 90% cumulative reduction in population happens for Ertapenem vs Ertapenem+Zidebactam (almost 2-3 dilutions lower!).
Zidebactam can give a new lease of life to lot of old beta-lactam antibiotics in combination as a BLE perhaps. So success of WCK-5222 has more riding on it than just its value. There’s a step-wise recalibration that can happen in expectation at that point of time in future where the money from WCK-5222 upfront licensing fee can help with taking the rest of the drugs through trials and unlocking further value. The balance sheet once it gets deleveraged can make this look like a completely different business once cash flows start.
Again, these are at least a year or 2 in the future, so a lot can change and all of it hinge on WCK-5222’s success, so its like building castles in the air talking more about it at this point prematurely. But WCK-5222 is not the only thing that can affect valuation once its approved is the limited point.
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