TSX Shariah screener · October 2026
Is BioSyent Inc. (RX) Halal?
BioSyent Inc. · TSX Venture: RX · Healthcare
The short answer
BioSyent Inc. (TSX Venture: RX) is a PASS. The business gate passes: it is a Mississauga specialty healthcare company that in-licenses, acquires, markets, and distributes pharmaceutical and oral-health products (FeraMAX, Tibella, Inofolic, RepaGyn, plus the Oral Science dental business acquired March 1, 2026), with no prohibited segments. The debt gate passes: short-term debt of C$2.0M (June 30, 2026) is about 1.1% of the ~C$189.8M market cap (11,308,835 shares × C$16.78, October 1, 2026), far under the ~33% ceiling. The income gate passes: separately disclosed interest income of C$94,412 is about 0.5% of Q2 2026 net revenues of C$19,872,763, well under the ~5% ceiling (H1 basis ~0.8%). Cash, equivalents, short-term and long-term investments total ~C$12.2M, about 6.4% of market cap. No Zoya, Musaffa, or ShariaPortfolio coverage was found. This is a rules-based screen, not a religious ruling.
Gate 1 — Business activity: PASS
BioSyent is a profitable, growth-oriented specialty healthcare products company focused on acquiring or in-licensing, marketing, and distributing pharmaceutical and oral-health products in Canada and internationally. Its pharmaceutical business sells FeraMAX (iron deficiency anemia), Tibella/Tibelia (tibolone HRT), Inofolic (natural health product for PCOS), RepaGyn, Gelclair (oral mucositis), Cathejell, Combogesic, and Proktis-M; the oral-health business is Oral Science Inc. (Brossard, QC), acquired March 1, 2026, contributing Q2 2026 sales of C$8.2M in its first full quarter; a small legacy insecticide segment (C$0.54M in Q2) sells pest-control insecticides. There are no alcohol, gambling, weapons, tobacco, cannabis, conventional-lending/insurance, or pork segments. The business gate passes.
Gate 2 — Debt and cash: PASS
At June 30, 2026 (Q2 2026 interim financial statements, released August 20, 2026), interest-bearing debt was C$2.0M — short-term debt only, the residual of the C$8M of RBC facilities drawn for the March 2026 Oral Science acquisition (C$6M one-year term loan plus C$2M revolver), mostly repaid in H1 2026; non-current liabilities of C$820k are mostly lease and related items. Against a market cap of ~C$189.8M (11,308,835 shares outstanding × C$16.78, October 1, 2026, TSX Venture), that is about 1.1% — far under the ~33% ceiling; about 1.5% including the non-current liabilities, also a pass, so the result is robust to debt treatment. The company paid a quarterly dividend of C$0.055/share (March 13 and June 15, 2026; September 15, 2026 declared) and repurchased 218,500 shares in H1 2026. Cash, cash equivalents and short-term investments of C$8.94M plus long-term investments of C$3.29M total ~C$12.2M, about 6.4% of market cap. The debt and cash gates pass.
Gate 3 — Non-compliant income: PASS
The Q2 2026 financial statements separately disclose interest income of C$94,412 (shown as its own line in the EBITDA reconciliation, not netted away; C$261,204 in H1 2026). Against Q2 2026 net revenues of C$19,872,763, that is about 0.5% — well under the ~5% ceiling (H1 basis ~0.8%). The income gate passes.
Key figures used
- PASS — all gates pass (October 2026 screen)
- Business: Mississauga specialty pharma/oral health (FeraMAX, Tibella, Inofolic, RepaGyn, Gelclair; Oral Science acquired Mar 1, 2026, Q2 sales C$8.2M; legacy insecticides C$0.54M/Q2); no prohibited segments — PASS
- Debt: C$2.0M short-term debt (Jun 30, 2026) ≈ 1.1% of ~C$189.8M market cap (11,308,835 shares × C$16.78, Oct 1, 2026) vs ~33% ceiling — PASS (≈1.5% incl. C$820k non-current liabilities, also PASS); RBC acquisition facilities mostly repaid in H1 2026
- Income: ≈0.5% — separately disclosed interest income C$94,412 ÷ Q2 2026 net revenues C$19,872,763 vs ~5% ceiling (H1 ≈0.8%) — PASS
- Cash: cash, equivalents & short-term investments C$8.94M + long-term investments C$3.29M ≈ C$12.2M ≈ 6.4% of market cap
- Third-party: no Zoya/Musaffa/ShariaPortfolio coverage found
- Material: 64th consecutive profitable quarter (Q2 NIAT C$2.85M, +41% YoY); TTM ROE 24%; quarterly dividend C$0.055 (paid Mar 13 & Jun 15, 2026; Sep 15 declared); 218,500 shares bought back H1 2026; Globe & Mail Top Growing Companies 2026 (rank 343)
Frequently asked questions
Is BioSyent (RX) halal?
Our October 2026 screen gives BioSyent Inc. (TSX Venture: RX) a PASS. The business gate passes (Mississauga specialty healthcare company that in-licenses, acquires, markets, and distributes pharmaceutical and oral-health products — FeraMAX, Tibella, Inofolic, RepaGyn, plus the Oral Science dental business acquired March 1, 2026; no prohibited segments). The debt gate passes (short-term debt of C$2.0M at June 30, 2026 is about 1.1% of the ~C$189.8M market cap, far under the ~33% ceiling). The income gate passes (separately disclosed interest income of C$94,412 is about 0.5% of Q2 2026 net revenues of C$19,872,763, well under the ~5% ceiling; H1 basis ~0.8%). Cash, equivalents, short-term and long-term investments total ~C$12.2M, about 6.4% of market cap. No Zoya, Musaffa, or ShariaPortfolio coverage was found. This is a rules-based screen, not a religious ruling.
What does BioSyent do?
BioSyent is a profitable, growth-oriented specialty healthcare products company focused on acquiring or in-licensing, marketing, and distributing pharmaceutical and oral-health products in Canada and internationally. Its pharmaceutical business sells FeraMAX (iron deficiency anemia), Tibella/Tibelia (tibolone HRT), Inofolic (natural health product for PCOS), RepaGyn, Gelclair (oral mucositis), Cathejell, Combogesic, and Proktis-M. Its oral-health business is Oral Science Inc. of Brossard, QC, acquired March 1, 2026, which contributed C$8.2M of sales in Q2 2026, its first full quarter. A small legacy insecticide segment (C$0.54M in Q2 2026) sells pest-control insecticides.
How much debt does BioSyent have?
At June 30, 2026 (Q2 2026 interim financial statements, released August 20, 2026), interest-bearing debt was C$2.0M — short-term debt only, the residual of the C$8M of RBC facilities drawn for the March 2026 Oral Science acquisition (C$6M one-year term loan plus C$2M revolver), mostly repaid in H1 2026. Against a market cap of ~C$189.8M (11,308,835 shares outstanding × C$16.78, October 1, 2026, TSX Venture), that is about 1.1% — far under the ~33% ceiling (about 1.5% including C$820k of non-current liabilities, also a pass). The company pays a quarterly dividend of C$0.055/share and repurchased 218,500 shares in H1 2026.
Is BioSyent’s income compliant?
Yes. The Q2 2026 financial statements separately disclose interest income of C$94,412 (its own line in the EBITDA reconciliation, not netted away; C$261,204 in H1 2026). Against Q2 2026 net revenues of C$19,872,763, that is about 0.5% — well under the ~5% ceiling (H1 basis ~0.8%). The income gate passes.
What do third-party Shariah screeners say about RX?
No Zoya, Musaffa, or ShariaPortfolio rating was found for RX in public search — none of the three named providers surfaced coverage, so no rating is claimed here.
Sources
- BioSyent Inc. — Q2 and H1 2026 financial results press release (net revenues C$19,872,763, interest income C$94,412, short-term debt C$2.0M, cash & investments C$12.2M, 11,308,835 shares outstanding)
- BioSpace — BioSyent Q2 2026 results (segment sales, Oral Science first full quarter C$8.2M)
Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.