Write and . The master equation balances the transitions at rate , at rate , and at rate :
for , with .
For zero products, put and
The initial conditions are and . Eliminating gives
Therefore
and using gives
Before the first product forms, the system is in either or . Product formation is possible only through , so the first-passage-time density is the outgoing probability flux
Equivalently, the survival function is and its negative derivative is this density.
Integrating the density, and using and , gives
The same result follows from first-step analysis: the enzyme waits on average to bind, and each complex either produces or returns to the initial enzyme state.

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