Is Ionis Pharmaceuticals Stock Halal?
Table of Contents
How much of Ionis Pharmaceuticals’ revenue comes from haram?
Ionis Pharmaceuticals earns its revenue from the following revenue sources:
- Commercial Revenue:
Includes a range of products used to treat spinal muscular atrophy, polyneuropathy of hereditary transthyretin-mediated amyloidosis, and familial chylomicronemia syndrome.
- Research and Development Revenue:
Generated from collaboration agreements for licensing and selling Ionis’s technology and manufacturing services.
The contributions from each of Ionis Pharmaceuticals’ revenue segments in their 2020 annual report were as follows:
Practical Islamic Finance concludes:
None of Ionis Pharmaceuticals’ revenue comes from anything inherently haram.
Does Ionis Pharmaceuticals rely on interest to operate?
Ionis Pharmaceuticals reports its Interest Income & Expenses as a net value.
According to the company’s annual report for the fiscal year ended December 31, 2020 (Numbers in thousands, U.S. dollars):
Interest Expense (net): $44,990
Total Expenses: $901,346
Interest Expense / Total Expense: 4.99%
The following table shows the declining percentage that net interest expense makes up relative to total expenses from 2018 to 2020.
| 2018 | 2019 | 2020 | |
| Interest Expense (net) | 6.78% | 6.44% | 4.99% |
Practical Islamic Finance concludes:
Riba is used but not relied upon in Ionis Pharmaceuticals’ operations.
What is Ionis Pharmaceuticals’ Environmental, Social, and Governance (ESG) impact?
Environment
No notable environmental highlights.
Social
Ionis Pharmaceuticals has a relatively high Glassdoor rating of 3.8 out of 5.0 from over 60 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.
In March 2021, Ionis Pharmaceuticals announced a grant program providing $50,000 in funding to researchers working to advance the understanding of transthyretin amyloidosis.
Governance
No notable governance highlights.
Practical Islamic Finance concludes:
Ionis Pharmaceuticals has a net positive ESG impact.
Comfort Rating
From Ionis Pharmaceuticals’ business, financial, and ESG reviews, Practical Islamic Finance rates Ionis Pharmaceuticals as:
Comfortable to invest in from a Halal perspective.
Sources
UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K Ionis Pharmaceuticals, Inc.
FDA approves first drug for spinal muscular atrophy | FDA.
Tegsedi (Inotersen Injection): Uses, Dosage, Side Effects, Interactions, Warning