How much of Jaguar Health’s revenue comes from haram?

Jaguar Health develops plant-based, non-opioid prescription medicines for people and animals with gastrointestinal distress, specifically chronic, debilitating diarrhea.

Jaguar Health earns its revenue primarily from the following revenue sources: 

  • Human Health: 

Includes revenue generated from selling human drug Mytesi by Jaguar’s wholly-owned subsidiary, Napo Pharmaceuticals, Inc.

  • Animal Health:

Includes revenue generated from selling animal products branded as Neonorm Calf and Neonorm Foal. 

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

Practical Islamic Finance concludes:

None of Jaguar Health’s revenue comes from anything inherently haram.

Does Jaguar Health rely on interest to operate?

Most Recent Quarter
Fiscal year
Fiscal year
Interest Expense $4,194 $8,421 $2,792
Total Operating Expenses $14,379 $43,409 $29,571
Interest Expense /
Total Operating Expenses
29.17% 19.40% 9.44%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

There appears to be a persistent reliance on the use of Riba in Jaguar Health, Inc. operations.

What is Jaguar Health’s Environmental, Social, and Governance (ESG) Impact?


Since 2001, Jaguar Health has planted more than 800,000 Croton lechleri trees in Peru in its sustainable harvesting program.


No notable social highlights.


No notable governance highlights.

Practical Islamic Finance concludes: 

Jaguar Health has a net positive ESG impact. 

Comfort Rating 

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

Uncomfortable to invest in from a halal perspective.

Justification for our rating

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


Jaguar Health 2020 Annual Report

Jaguar Health 2021 Q2 10Q 

Jaguar Health Sustainability