How much of Citius Pharmaceuticals’ revenue comes from haram?

Citius currently doesn’t generate any revenue. 

Citius is a clinical-stage pharmaceutical company with many products in its pipeline. Most notable is its Mino-lok: antibiotic lock solution used to treat patients with catheter-related bloodstream infections. 

In addition, Citius is developing a proprietary stem cell platform for treating respiratory conditions associated with acute inflammation, with an initial indication in the treatment of acute respiratory distress syndrome (ARDS).

Additionally, Citius is working on the Mino-Wrap: a malleable bio-absorbable film impregnated with minocycline and rifampin. It is designed to significantly reduce infections associated with the use of breast tissue expanders (TE) used in patients that undergo reconstructive breast surgery.

Finally, Citius is developing the Halo-Lido: a proprietary topical formulation of halobetasol and lidocaine that is intended to provide anti-inflammatory and anesthetic relief to individuals suffering from hemorrhoids.

Practical Islamic Finance concludes:

None of Citius’ revenue comes from anything inherently haram.

Does Citius rely on interest to operate?

Year-to-Date
for period ended
6/30/2021
Fiscal year
ended
12/31/2020
Fiscal year
ended
12/31/2019
Interest Income $186.22$68.07$52.66
Total Revenue
Interest Expense$10.84$15.67$16.44
Total Expenses$18,328$17,711$15,598
Interest Income / Revenue
Interest Expense / Total Expense0.06%0.09%0.11%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Citius’ operations.

What is Citius Pharmaceuticals’ Environmental, Social, and Governance (ESG) impact?

Environment

No notable environmental highlights.

Social

The company is currently testing a drug that would put an end to the expensive infected Central Venous Catheter (CVC) removal process. There are few alternatives to removing and replacing a CVC once it becomes infected. 

In the US, each year approximately 500,000 catheters become infected and need to be removed. The procedure costs around $10,000 to replace.  

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

Citius Pharmaceuticals has a net positive ESG impact.

Comfort Rating

From Citius Pharmaceuticals’ business, financials, and ESG reviews, Practical Islamic Finance rates Citius Pharmaceuticals stock as: 

Comfortable to invest in from a Halal perspective.

Sources

Citius Pharmaceuticals 2020 10K

Citius Pharmaceuticals Q3 2021 10Q

Citius Pharmaceuticals, Inc. (CTXR) Stock Price, News, Quote

Citius Pharmaceuticals, Inc. – Unlocking Potential. Faster.

Mino-Wrap

CTXR Presentation