Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Alnylam Pharmaceuticals, Inc. (ALNY) Halal?

PASS

Alnylam Pharmaceuticals, Inc. · NASDAQ: ALNY · Healthcare

The short answer

Yes - Alnylam Pharmaceuticals, Inc. (ALNY) passes this Shariah stock screen on all three gates. Alnylam, the Cambridge, Massachusetts-based leader in RNA interference (RNAi) therapeutics, sells only prescription medicines (AMVUTTRA, ONPATTRO, GIVLAARI, OXLUMO) plus royalty and collaboration revenue from partners - no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance segments. Its interest-bearing debt (convertible notes) is about 2.98% of its roughly $33.9 billion market cap, well under the 33% ceiling, and separately disclosed interest income is about 2.18% of revenue, under the 5% non-compliant income ceiling. Musaffa rates ALNY HALAL (October 2026) and Zoya classifies it as Shariah-compliant (September 2026).

Gate 1 — Business activity: PASS

Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY), founded in 2002 and headquartered in Cambridge, Massachusetts (CEO Yvonne Greenstreet, M.D.), is the leading RNA interference (RNAi) therapeutics company. Its commercial products are AMVUTTRA (vutrisiran), ONPATTRO (patisiran), GIVLAARI (givosiran), and OXLUMO (lumasiran) - prescription medicines for rare diseases including ATTR amyloidosis - plus Leqvio (inclisiran) and Qfitlia (fitusiran), which are developed and commercialized by collaboration partners Novartis and Sanofi. Revenue comes from net product sales, collaboration agreements (Roche, Regeneron), and royalties. No segment involves alcohol, tobacco, gambling, weapons manufacturing, adult entertainment, pork, or conventional interest-based finance, so Alnylam passes the business-activities gate.

Gate 2 — Debt and cash: PASS

Per Alnylam's Q2 2026 Form 10-Q condensed consolidated balance sheet (June 30, 2026; $ thousands; reproduced in the July 30, 2026 earnings release, Exhibit 99.1 to Form 8-K, cross-verified via stocktitan's filing transcription), the only interest-bearing borrowing is convertible debt of $1,010,981K (about $1.01B). Operating-lease liabilities ($45,933K current + $210,495K non-current) are excluded, as the screen only counts interest-bearing borrowings. (Liabilities related to the sale of future royalties and development funding, $258,570K current + $1,461,510K non-current, are royalty-monetization obligations, not interest-bearing debt, and are likewise excluded.) Against a market capitalization of roughly $33.9 billion (live quotes, October 2026), the debt-to-market-cap ratio is about 2.98% - well below the ~33% ceiling this screen applies. Cash and cash equivalents of $1,708,318K plus marketable debt securities of $1,599,829K (about 9.7% of market cap) further support the balance sheet.

Gate 3 — Non-compliant income: PASS

Alnylam's consolidated statements of operations separately disclose an 'Interest income' line. For Q2 2026 (quarter ended June 30, 2026): interest income $28,143K against total revenues of $1,290,948K - about 2.18% of revenue, below the 5% non-compliant income ceiling. For the first half of 2026 the line was $54,741K. As a cross-check, FY2025 figures cited by Zoya from the annual report (revenue $3,713,937K; interest income $111,470K) imply about 3.0% - also under the 5% ceiling. Alnylam therefore passes the non-compliant income gate.

Key figures used

Frequently asked questions

What does Alnylam Pharmaceuticals do?

Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) is a Cambridge, Massachusetts-based biotech company and the leader in RNA interference (RNAi) therapeutics - medicines that silence disease-causing genes. Founded in 2002 and led by CEO Yvonne Greenstreet, M.D., it sells four commercial products: AMVUTTRA (vutrisiran) and ONPATTRO (patisiran) for ATTR amyloidosis, GIVLAARI (givosiran), and OXLUMO (lumasiran). Partners Novartis and Sanofi commercialize Leqvio (inclisiran) and Qfitlia (fitusiran). In Q2 2026 the company posted total revenues of $1,291 million, up 67% year over year, driven by global net product revenues of $1,172 million.

Why does Alnylam pass this Shariah stock screen?

Alnylam passes all three gates of this screen. Gate 1: its core business - RNAi prescription medicines sold directly or through partners, plus collaboration and royalty revenue - contains no prohibited activities; no segment involves alcohol, tobacco, gambling, weapons manufacturing, adult entertainment, pork, or conventional finance. Gate 2: total interest-bearing debt of about $1,011 million (convertible notes) is about 2.98% of its roughly $33.9 billion market cap (October 2026), well under the ~33% ceiling. Gate 3: separately disclosed interest income of $28.1 million on $1,291 million of Q2 2026 revenue is about 2.18% of revenue, well under the 5% non-compliant income ceiling.

What is Alnylam's interest-bearing debt ratio?

Per Alnylam's Q2 2026 Form 10-Q condensed consolidated balance sheet (June 30, 2026; $ thousands; reproduced in the July 30, 2026 earnings release), convertible debt was $1,010,981K - the only interest-bearing borrowing. Against a market capitalization of roughly $33.9 billion (live quotes, October 2026), the debt-to-market-cap ratio is about 2.98% - well below the ~33% ceiling this screen applies. Operating-lease liabilities and royalty-monetization liabilities were excluded, as the screen only counts interest-bearing borrowings. Cash and marketable securities of about $3.31 billion are about 9.7% of market cap.

How much interest income does Alnylam earn?

Alnylam separately discloses an 'Interest income' line on its consolidated statements of operations: $28,143K for Q2 2026 against total revenues of $1,290,948K (about 2.18% of revenue), and $54,741K for the first half of 2026. Both are well under the 5% non-compliant income ceiling. As a cross-check, Zoya's figures from the FY2025 annual report (revenue $3,713,937K; interest income $111,470K) imply about 3.0% - also under the ceiling.

What do third-party Shariah screeners say about Alnylam?

Of the three third-party Shariah screeners checked, Musaffa classifies ALNY as HALAL as of October 2026 (AAOIFI methodology), and Zoya classifies ALNY as Shariah-compliant as of September 2026. No ShariaPortfolio rating for ALNY was located. Third-party ratings can change as new financial statements are released, so investors typically recheck them before acting.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).