BMRN
BioMarin Pharmaceutical Inc.
Is BMRN Halal?
Rare-disease biopharmaceutical company — permissible medicine research, but current cash and debt-security balances fail the examined asset-based liquidity and receivables screens.
What You Should Know
BioMarin develops and markets therapies for serious rare genetic diseases. Its March 31, 2026 Form 10-Q reports $8,591.016 million of assets, $1,500 million of convertible-note debt, $2,222.435 million of cash, $3,072.435 million of available-for-sale debt securities, $903.914 million of accounts receivable and $766.208 million of first-quarter revenue. Debt/assets is 17.46%, but liquidity/assets is 61.63% and receivables-plus-cash/assets is 36.39%, above the examined asset-based limits; investment income interest/revenue is 2.94%. The activity is generally permissible, but the current quantitative result is doubtful rather than clearly halal.
⚠️ Concerns
- •Liquidity/assets is 61.63%, above the examined 33.333% asset-based limit
- •Receivables-plus-cash/assets is 36.39%, above the examined MSCI limit
- •Convertible-note debt is 17.46% of assets; market-cap methods are not calculated here
- •Investment income interest is 2.94% of revenue; purification treatment remains methodology-specific
- •Clinical, regulatory and pricing changes can materially alter the balance-sheet result
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,500 / 8,591.016
5,294.87 / 8,591.016
3,126.349 / 8,591.016
22.56 / 766.208
- Financial
- Fails
- Overall
- Fails
Debt/assets is 17.46%, liquidity/assets is 61.63% and receivables plus cash/assets is 36.39%; liquidity/assets is above the examined FTSE limit and interest income/revenue is 2.94%.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 61.63% and receivables plus cash/assets is 36.39%, above the examined MSCI total-assets limits; debt/assets is 17.46% and interest income/revenue is 2.94%.
- Financial
- Fails
- Overall
- Fails
Identifiable liquidity/assets is 61.63%, above the examined Malaysia SAC limit; debt/assets is 17.46%. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based screens fail on liquidity and receivables-plus-cash.
Business-activity disclosure
BioMarin develops and markets therapies for rare genetic diseases. Pharmaceutical research and treatment are generally permissible, while product approvals, collaborations and pricing disclosures require continuing review.
Limitation: The filing does not allocate every product, collaboration or pipeline revenue stream into a universal prohibited-activity numerator.
Purification
BioMarin discloses $22.56 million of investment income interest, but no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from BioMarin's March 31, 2026 Form 10-Q.
- Debt uses the $1,500 million debt-instrument carrying amount for convertible notes; operating leases are excluded.
- Cash and cash equivalents are $2,222.435 million. Available-for-sale debt securities are $3,072.435 million and are included as identifiable interest-bearing securities; restricted cash is not added again.
- Accounts receivable, net is $903.914 million and first-quarter revenue is $766.208 million.
- Investment income interest is $22.56 million; the filing does not provide a universal prohibited-revenue numerator for every medicine, collaboration or customer end use.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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