NOVN
Novartis AG
Is NOVN Halal?
Pharmaceutical and eye-care business is generally permissible, but current asset-based debt screen fails.
What You Should Know
Novartis's March 31, 2026 interim report shows USD 118,532 million of assets, USD 46,998 million of mapped financial debt and USD 13,524 million of Q1 revenue. Medicines are generally life-preserving, while ingredients, research materials, licensing and clinical ethics require product-level qualitative review.
⚠️ Concerns
- •Debt/assets exceeds common 33.33% limits
- •Some porcine-derived research or medicine materials
- •Clinical-trial, pricing and licensing questions require review
Current quantitative Sharia screen
Based on Q1 interim financial report figures for the period ended 2026-03-31; calculated 2026-07-14.
46,998 / 118,532
6,977 / 118,532
16,263 / 118,532
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.65%, above the examined 33.333% limit; liquidity/assets is 5.89% and receivables plus cash/assets is 13.73%, while income and activity classification remain incomplete.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.65%, above the examined MSCI total-assets limit; the debt failure is independent of the incomplete business classification.
- Financial
- Fails
- Overall
- Fails
Debt/assets is above the examined Malaysia limit; this is a calculation against the named ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
Historical market-cap inputs are not stored and the income numerator is unavailable; the debt failure remains material.
Business-activity disclosure
Novartis is a pharmaceutical and eye-care company. Medicines and diagnostics are generally permissible life-preserving activities, but product ingredients, research materials, licensing and end uses are not fully allocated in the filing.
Limitation: The public report does not provide a universal prohibited-revenue allocation or a school-neutral treatment of porcine-derived materials and clinical research.
Purification
No comparable conventional-interest numerator is separately disclosed; no purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from the March 31, 2026 interim report.
- Debt includes current and non-current financial debt plus reported lease liabilities; cash is USD 6,877 million, marketable securities/time deposits/derivatives USD 100 million and trade receivables USD 9,386 million.
- Q1 revenue is net sales USD 13,113 million plus other revenues USD 411 million.
- The filing does not isolate a methodology-neutral conventional-interest income or prohibited-product revenue numerator.
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.
Similar Stocks
Want to screen more assets?
Use our interactive Halal Checker to screen any stock, ETF, or crypto instantly.
Go to Halal Checker →