Is Citius Pharmaceuticals (CTXR) Halal to invest in?
Table of Contents
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 Expense | 0.06% | 0.09% | 0.11% |
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