Halal Healthcare stocks
US Healthcare stocks screened against the AAOIFI standard: business activity, interest-bearing debt, cash and interest income. Below are the largest halal ones by market cap.
Halal
275
Not halal
672
Doubtful
74
Not enough data
24
26% of the sector is halal · 1045 listed companies in total
Why companies in this sector pass or fail
In healthcare the business itself (drugs, medical devices, clinics) is usually permissible. The main hurdle is the cash ratio: biotech companies keep raised capital as cash while their market cap is small, so cash and investments often exceed 30%. In companies with little revenue yet, interest earned on that cash also often goes above 5%. For large pharma and hospital chains the debt ratio is usually what decides.
This is a general observation, not a fatwa. Every company is screened individually — the result is on its own page, with the ratios. Methodology
Not halal — by reason
672 companies are currently not halal. One company can fail for several reasons; the interest-income test only applies once the debt and cash ratios pass.
- Prohibited business (banking, insurance, alcohol, gambling...)15 · 2%
- Interest-bearing debt ≥ 30% (of market cap)181 · 27%
- Cash & investments ≥ 30%468 · 70%
- Interest (non-compliant) income ≥ 5%61 · 9%
- Other (collapsed market cap, no revenue, etc.)18 · 3%
Largest halal stocks — Healthcare
The 30 largest by market cap. Open any row for the full stock page — ratios, formula and date.
| # | Company | Industry | Market cap | Price | Debt | Cash | Interest income |
|---|---|---|---|---|---|---|---|
| 1 | Drug Manufacturers - General | $1.08T | 1,257.255 | 6.9 | 1.3 | 0.4 | |
| 2 | Drug Manufacturers - General | $605.80B | 255.6 | 11.3 | 4.8 | 1.1 | |
| 3 | Drug Manufacturers - General | $496.06B | 285.47 | 20.0 | 1.9 | 0.4 | |
| 4 | Drug Manufacturers - General | $358.28B | 145.93 | 19.9 | 3.1 | 0.5 | |
| 5 | Drug Manufacturers - General | $276.70B | 150.6 | 20.7 | 4.2 | 0.7 | |
| 6 | Diagnostics & Research | $249.61B | 690.37 | 21.4 | 2.0 | 2.2 | |
| 7 | Drug Manufacturers - General | $248.97B | 165.4 | 13.3 | 3.0 | 0.6 | |
| 8 | Drug Manufacturers - General | $186.92B | 156.19 | 20.7 | 2.5 | 1.2 | |
| 9 | Medical Devices | $178.81B | 104.89 | 19.0 | 4.5 | 0.7 | |
| 10 | Drug Manufacturers - General | $174.32B | 38.82 | 12.1 | 4.0 | 0.4 | |
| 11 | Diagnostics & Research | $158.33B | 229.03 | 16.6 | 2.7 | 0.1 | |
| 12 | Medical Instruments & Supplies | $150.27B | 426.7 | 0.0 | 5.2 | 3.6 | |
| 13 | Biotechnology | $124.91B | 499.74 | 0.0 | 12.0 | 4.1 | |
| 14 | Medical Devices | $118.38B | 94.76 | 25.3 | 7.9 | — | |
| 15 | Medical Distribution | $113.63B | 1,005.07 | 11.8 | 6.3 | 0.0 | |
| 16 | Medical Devices | $111.76B | 294.67 | 11.2 | 2.6 | — | |
| 17 | Drug Manufacturers - General | $98.49B | 49.505 | 28.0 | 6.0 | 0.2 | |
| 18 | Medical Distribution | $63.70B | 340.93 | 22.4 | 5.4 | 0.0 | |
| 19 | Medical Devices | $63.47B | 44.385 | 10.7 | 1.6 | 0.1 | |
| 20 | Diagnostics & Research | $58.13B | 393.44 | 0.4 | 5.2 | 2.0 | |
| 21 | Medical Distribution | $56.30B | 254.04 | 24.7 | 13.5 | — | |
| 22 | Biotechnology | $51.83B | 819.14 | 0.1 | 13.9 | 3.9 | |
| 23 | Medical Instruments & Supplies | $51.16B | 191.548 | 29.9 | 1.3 | 0.2 | |
| 24 | Medical Devices | $49.22B | 86.61 | 1.5 | 9.4 | 2.8 | |
| 25 | Diagnostics & Research | $48.89B | 172.92 | 10.7 | 4.8 | 0.9 | |
| 26 | Medical Instruments & Supplies | $48.14B | 35.96 | 26.1 | 5.6 | — | |
| 27 | Drug Manufacturers - Specialty & Generic | $43.87B | 10.12 | 27.3 | 4.0 | 0.5 | |
| 28 | Diagnostics & Research | $42.91B | 437.03 | 22.4 | 2.4 | 0.6 | |
| 29 | Biotechnology | $42.42B | 369.06 | 3.8 | 18.1 | 1.3 | |
| 30 | Diagnostics & Research | $41.49B | 560.36 | 2.2 | 0.5 | 0.1 |
Ratios in percent; limits: debt < 30%, cash < 30%, interest income < 5%.
The other 245 halal stocks — in the screener
The public page is a sample. The screener filters by sector and halal status: sort every Healthcare stock by 40+ metrics (P/E, margins, growth, technicals).
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Industries in this sector
Industries with at least 5 halal stocks — each with its own list and failure reasons.
- Biotechnology81 / 592 halal
- Medical Devices61 / 140 halal
- Medical Instruments & Supplies27 / 49 halal
- Diagnostics & Research25 / 44 halal
- Drug Manufacturers - Specialty & Generic24 / 82 halal
- Health Information Services20 / 41 halal
- Medical Care Facilities20 / 49 halal
- Drug Manufacturers - General10 / 21 halal
- Medical Distribution6 / 11 halal
Other sectors
Frequently asked questions
- Which Healthcare stocks are halal?
- According to our AAOIFI-based screening, 275 of 1045 listed Healthcare companies are halal. The largest by market cap: Eli Lilly and Company (LLY), Johnson & Johnson (JNJ), AbbVie Inc. (ABBV), Merck & Company, Inc. (MRK), Novartis AG (NVS). The full list and each company's ratios are on the stock pages.
- Why are some Healthcare companies not halal?
- In healthcare the business itself (drugs, medical devices, clinics) is usually permissible. The main hurdle is the cash ratio: biotech companies keep raised capital as cash while their market cap is small, so cash and investments often exceed 30%. In companies with little revenue yet, interest earned on that cash also often goes above 5%. For large pharma and hospital chains the debt ratio is usually what decides.
- Is this a fatwa or investment advice?
- No. This is the result of automated screening based on public data. It is neither a fatwa nor an investment recommendation. Consult a scholar or adviser you trust before making decisions.
- How often are the results updated?
- Screening runs every day: when a new quarterly report comes out, the ratios are recalculated and the status may change. Each stock page shows the date it was checked.
Terms
Not a fatwa and not investment advice. Screening is automated from public financial reports and may be wrong or out of date.