How much of Amgen’s revenue comes from haram?

Amgen develops human therapeutics targeting six areas: cardiovascular disease, oncology, bone health, neuroscience, nephrology, and inflammation.

Amgen earns its revenue from the following revenue sources:

  • Product Sales:

Includes revenue generated from selling therapeutics to treat cancer, osteoporosis, migraine, psoriasis, asthma, and cardiovascular diseases.

  • Other Revenue:

Includes revenue generated from royalty income and corporate partner revenues.

The contributions from each of Amgen’s revenue segments in their Q2 2021 report were as follows:

Practical Islamic Finance concludes:

None of Amgen’s revenue comes from anything inherently haram.

Does Amgen rely on interest to operate?

for period ended
Fiscal year
Fiscal year
Interest and Other Income, net$24,000$256,000$753,000
Total Revenue$12,427,000$25,424,000$23,362,000
Interest Expense $566,000$1,262,000$1,289,000
Total Expenses$9,470,000$16,285,000$13,688,000
Interest and Other Income, net / Revenue0.19%1.01%3.22%
Interest Expense / Total Expense5.98%7.75%9.42%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes: 

From the consistently elevated Interest Expense/Total Expense levels, Riba is relied upon in Amgen’s operations.

What is Amgen Environmental, Social, and Governance (ESG) Impact?


Since 2008, Amgen’s ESG program has implemented projects resulting in a 33% reduction in carbon emissions, a 30% reduction in water usage, and a 28% reduction in waste disposal.

In addition, as of 2020, 41% of Amgen’s electricity consumption comes from renewable sources.


In 2020, Amgen Safety Net Foundation provided $1.5 billion worth of medicines for free to low-income patients in the United States. 

Additionally, in 2020, Amgen Foundation supported numerous programs that provided science education at no cost to 24 million high school and university-level students worldwide, including young people from low-income and disadvantaged communities.

Amgen is a founding member of OneTen, a coalition aiming to hire 1 million Black Americans over ten years. 

Amgen has a high Glassdoor rating of 4.1 out of 5 from over 2900 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies. 


No notable governance highlights.

Practical Islamic Finance concludes: 

Amgen has a net positive ESG impact. 

Comfort Rating 

From Amgen’s business, financial, and ESG reviews, Practical Islamic Finance rates Amgen stock as: 

Uncomfortable to invest in from a halal perspective.

Justification for our rating

Amgen’s consistent elevated use of interest to run its operations suggests a systemic reliance on interest. This causes Practical Islamic Finance to be uncomfortable investing in the company from a Halal perspective.


Amgen 2020 Annual Report

Amgen Q2 2021 10Q

Amgen 2020 ESG Report

Amgen Reviews (Targets)