Is Novavax Stock Halal?

Is Novavax Stock Halal?

How much of Novavax’s revenue comes from haram?

Novavax develops vaccines to prevent serious infectious diseases and address urgent global health needs. The company’s vaccine candidates include NVX-CoV2373, a coronavirus vaccine; NanoFlu, a nanoparticle seasonal influenza vaccine; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine.

Novavax earns its revenue primarily from the following revenue sources: 

  • Government Contracts:

Includes revenue generated from engaging in R&D services under U.S. government contracts and grants.

  • Grants and Other:

Includes revenue generated from collaborations, license agreements, and funding arrangements with the Coalition for Epidemic Preparedness Innovations (CEPI) to advance the clinical development and manufacturing of NVX-CoV2373.

  • Royalties:

Includes royalty revenues earned from SK bioscience’s sale of the antigen component of NVX-CoV2373 to the Korean government.

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

Practical Islamic Finance concludes:

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

Does Novavax rely on interest to operate?

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


No notable environmental highlights.


Novavax has a Glassdoor rating of 3.9 out of 5 from over 110 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies. 


No notable governance highlights.

Practical Islamic Finance concludes: 

Novavax has a net positive ESG impact. 

Comfort Rating 

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

Comfortable to invest in from a halal perspective.


Novavax 2020 Annual Report

Novavax Q2 2021 10Q 

Novavax Reviews 

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