Is Bausch Health (BHC) halal?
Bausch Health (TSX/NYSE: BHC) makes pharmaceuticals and medical devices — a permissible business — but its interest-bearing debt of about US$20,741 million is roughly 962% of its ~US$2.16 billion market cap, far over the ~33% ceiling. This screener is a FAIL.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — permissible pharmaceuticals and devices
Bausch Health, headquartered in Laval, Québec, is a global specialty pharmaceutical and medical-device company selling in about 90 countries. Its five reportable segments are Salix (U.S. gastrointestinal drugs, led by Xifaxan — about 85% of segment revenue), International (branded and branded-generic pharmaceuticals and OTC products outside the U.S.), Solta Medical (aesthetic medical devices), Diversified (U.S. neuroscience, dermatology, generics, and dentistry), and Bausch + Lomb (eye health), which Bausch Health ~87% owns and has not yet spun off — the full separation is still pending targeted debt-leverage ratios and shareholder approvals. No haram business segments were found, so the business gate passes.
Gate two: the ratios — debt fails decisively
At June 30, 2026 (Q2 2026 Form 10-Q, filed July 30, 2026): current portion of long-term debt of US$866 million plus non-current long-term debt of US$19,875 million, for total interest-bearing debt of US$20,741 million, with cash and equivalents of US$1,825 million. With a market cap of about US$2.16 billion (373,990,561 shares outstanding per the 10-Q cover page, at the NYSE price of US$5.765 on September 29, 2026), debt is about 962% of market cap — about 29 times the ~33% ceiling. Interest income of US$11 million is about 0.39% of Q2 2026 revenue of US$2,852 million — under the ~5% ceiling, but that does not offset the debt ratio. The balance sheet tells the story: a shareholders' deficit of US$1,771 million, a US$1,426 million goodwill impairment in the Salix segment in the first half of 2026, and US$396 million of interest expense in Q2 2026 alone. Bausch Health reports in US dollars and is an SEC filer.
What other screeners say
No coverage of BHC was found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026. (Zoya has a separate page for the subsidiary Bausch + Lomb, ticker BLCO — a different company, not attributed here.)
The bottom line
This screener gives Bausch Health (TSX/NYSE: BHC) a FAIL. The pharmaceuticals business is permissible, but debt of about US$20,741 million is roughly 962% of the ~US$2.16 billion market cap — far over the ~33% ceiling. Consult a qualified scholar. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
Sources
- Q2 2026 Form 10-Q (Bausch Health, filed July 30, 2026)
- Q2 2026 results press release (Bausch Health)
- Zoya search — BHC (no coverage found)
Frequently asked questions
Is Bausch Health halal?
This screener gives it a FAIL. Bausch Health (TSX/NYSE: BHC) makes pharmaceuticals and medical devices — a permissible business — but its interest-bearing debt of about US$20,741 million is roughly 962% of its market cap of about US$2.16 billion, far over the ~33% ceiling. The company is in a shareholders' deficit, and debt servicing consumed US$396 million of interest expense in Q2 2026 alone. Consult a qualified scholar.
Why does Bausch Health fail the screener?
The business gate passes: Bausch Health's five segments (Salix GI drugs, International pharmaceuticals, Solta aesthetic devices, the Diversified group, and ~87%-owned Bausch + Lomb eye health) are entirely pharmaceuticals, OTC products, and medical devices, with no haram segments found. But the ratio gate fails decisively: at June 30, 2026 (Q2 2026 Form 10-Q, filed July 30, 2026), interest-bearing debt of US$20,741 million (US$866 million current plus US$19,875 million non-current) against a market cap of about US$2.16 billion is roughly 962% — about 29 times the ~33% ceiling. Interest income of US$11 million is about 0.39% of Q2 2026 revenue of US$2,852 million, under the ~5% ceiling, but that does not offset the debt ratio.
What are Bausch Health's debt and market-cap figures?
At June 30, 2026 (Q2 2026 Form 10-Q, filed July 30, 2026): current portion of long-term debt of US$866 million plus non-current long-term debt of US$19,875 million, for total interest-bearing debt of US$20,741 million, with cash and equivalents of US$1,825 million. Market cap is about US$2.16 billion (373,990,561 shares outstanding per the 10-Q cover page, at the NYSE price of US$5.765 on September 29, 2026). Debt is roughly 962% of market cap; cash is about 84.6% of market cap. The company reported a shareholders' deficit of US$1,771 million and a goodwill impairment of US$1,426 million in the Salix segment in the first half of 2026.
What does Bausch Health do?
Bausch Health, headquartered in Laval, Québec, is a global specialty pharmaceutical and medical-device company selling in about 90 countries. Its five reportable segments are Salix (U.S. gastrointestinal drugs, led by Xifaxan — about 85% of segment revenue), International (branded and branded-generic pharmaceuticals and OTC products outside the U.S.), Solta Medical (aesthetic medical devices), Diversified (U.S. neuroscience, dermatology, generics, and dentistry), and Bausch + Lomb (eye health), which Bausch Health ~87% owns and has not yet spun off — the full separation is still pending targeted debt-leverage ratios and shareholder approvals.
What do Zoya, Musaffa, and ShariaPortfolio say about BHC?
No coverage of BHC was found on Zoya (its search for BHC returns no matching results; a separate Zoya page exists for the subsidiary Bausch + Lomb, ticker BLCO, which is a different company and is not attributed here), Musaffa, or ShariaPortfolio in targeted searches as of September 2026.