On a 40 mg vial every percentage point of water and counter-ion is 0.4 mg, so the answer is a multiplication once you have the net peptide content off the certificate. Settle first whether the 40 mg on the label is gross fill or net peptide, because the two differ by exactly the quantity being asked about. If the certificate quotes net peptide content of 85 per cent, a 40 mg gross fill holds 34 mg of peptide; at 78 per cent it holds 31.2 mg. That 2.8 mg gap is 7 per cent of the label, larger than any purity difference anybody argues about, and it is invisible to a purity figure because water and acetate are not impurity peaks. Amino acid analysis or a nitrogen determination gives you the number; an HPLC area per cent never will.
In practice, a high purity does not guarantee high content because it says nothing about how much of anything is in the vial — a vial could be 99 per cent pure but only half full.
The single most common reason for disagreement between a supplier content figure and an independent assay is using different standards.
Mechanically, comparing content results from different laboratories requires knowing whether they both used certified reference materials or whether one used an in-house standard of unknown provenance.
The relative standard deviation on replicate quantitations of a homogeneous sample should be below two per cent when the method is under control.
Ask for both the purity and the content, and do not accept purity alone.