Additionally, the driver for the huge volume increase was partly Listerine going down market from an expensive medicine to a mass market product. $20 in 1881 is apparently equivalent to $580 now. J&J probably only get around $200 revenue for each gross of Listerine sold now (a guess based on retail prices and markups), suggesting that despite inflation the royalty is still a respectable 10% but implying the 1881 price must have been much higher, in real terms, than Listerine costs now.
International growth, strong USD, usage rates increasing. Overall, it's volumes vs inflation. Volumes have been growing faster on a relative basis.
Certainly a long-term risk; just one of many.