Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Regeneron Pharmaceuticals, Inc. (REGN) Halal?

PASS

Regeneron Pharmaceuticals, Inc. · NASDAQ: REGN · Healthcare

The short answer

Regeneron Pharmaceuticals (NASDAQ: REGN) passes this Shariah screen as of October 2026. Its business is fully biopharmaceutical with no haram segments, interest-bearing debt is only about 3.5% of its market capitalization, and interest income is about 5.0% of revenue — just under the 5% ceiling. The interest-income ratio is extremely close to the ceiling, so it should be rechecked each quarter.

Gate 1 — Business activity: PASS — halal business; no haram segments identified.

Gate 1 — Business activities: PASS. Regeneron is a fully integrated biotechnology company that invents, develops, manufactures, and commercializes medicines for people with serious diseases (FY2025 10-K, Item 1). FY2025 revenues were $14,342.9M: net product sales $6,309.1M (EYLEA HD, EYLEA, Libtayo, Praluent, Evkeeza, Veopoz, Inmazeb) plus collaboration revenue $7,331.2M (Sanofi collaboration: Dupixent/Kevzara global sales $18,381.3M; Bayer: EYLEA 8 mg/EYLEA ex-US sales $3,506.3M) plus other revenue $702.6M. EYLEA HD and EYLEA U.S. sales were 31% of total revenues in 2025. All revenue comes from medicines; there are no disclosed operations in alcohol, gambling, pork, tobacco, conventional banking or insurance, weapons, or adult entertainment.

Gate 2 — Debt and cash: PASS — debt ≈3.5% of market cap, under the ~33% ceiling.

Gate 2 — Interest-bearing debt: PASS. At June 30, 2026 (Q2 2026 press release, condensed consolidated balance sheet), Regeneron reported long-term debt of $1,986.6M and finance lease liabilities of $720.0M, giving total interest-bearing debt of $2,706.6M. Against a market capitalization of roughly $78B (shares trading near $735 in early October 2026; Finnhub market cap $76.75B), the debt-to-market-cap ratio is ≈3.5% — comfortably under the ~33% ceiling. For context, cash and cash equivalents were $3,118.1M at December 31, 2025 (FY2025 10-K), about 4% of market cap, and total cash plus marketable securities were $17.8B at June 30, 2026.

Gate 3 — Non-compliant income: PASS — interest income ≈5.0% of revenue, just under the 5% ceiling (marginal).

Gate 3 — Non-compliant (interest) income: PASS — but only marginally. The FY2025 10-K (Note on Other income (expense), net) discloses interest income of $716.8M for 2025, against total revenues of $14,342.9M. That works out to ≈4.998% — just under the 5% ceiling, with roughly $0.35M of headroom. For comparison, FY2024 interest income was $711.4M on revenue of about $14,202M (≈5.01%), so the ratio only dipped below the ceiling in FY2025. The Q2 2026 press release does not separately disclose interest income for the first half of 2026, so the FY2025 figure is the latest verifiable number; the ratio should be re-checked when the FY2026 10-K is filed.

Key figures used

Frequently asked questions

What does Regeneron do?

Regeneron Pharmaceuticals, Inc. is a fully integrated biotechnology company headquartered in Tarrytown, New York. It invents, develops, manufactures, and commercializes medicines for people with serious diseases. Its portfolio includes EYLEA HD and EYLEA (aflibercept) for eye diseases, Libtayo (cemiplimab) for cancer, Praluent (alirocumab) for cardiovascular disease, Evkeeza, Veopoz, Inmazeb, Lynozyfic, and Ordspono, plus collaboration products with Sanofi — Dupixent (dupilumab) and Kevzara — and with Bayer for EYLEA outside the United States.

Why does Regeneron pass this screen?

Regeneron passes all three gates of this screener. Its business is biopharmaceuticals with no haram segments; its interest-bearing debt is about 3.5% of market capitalization, well under the 33% ceiling; and its interest income is about 5.0% of revenue, just under the 5% ceiling. A caveat: the income-ratio gate is extremely close — 4.998% versus the 5% ceiling — so the ratio should be re-checked each quarter as new filings arrive.

What is Regeneron's interest-bearing debt ratio?

About 3.5%. Regeneron's interest-bearing debt was $2,706.6 million at June 30, 2026 (long-term debt $1,986.6M plus finance lease liabilities $720.0M, from the Q2 2026 press-release balance sheet). Against a market capitalization of roughly $78 billion (about $735 per share, early October 2026), that is 3.47% — comfortably under the 33% ceiling used in this screen.

What is Regeneron's non-compliant income ratio?

About 5.0% — just under the 5% ceiling, by a very thin margin. The FY2025 10-K discloses interest income of $716.8 million and total revenues of $14,342.9 million, which works out to 4.998%. For comparison, in FY2024 the ratio was $711.4 million of interest income on $14,202 million of revenue (5.01%), so FY2025 was the first year it dipped below the ceiling.

Do Zoya, Musaffa, or ShariaPortfolio cover Regeneron?

Zoya maintains a dedicated REGN page and cites the same figures ($716.8M interest income on $14,342.9M revenue), but its auto-generated page text contains contradictory compliance variants, so no verifiable Zoya rating can be quoted. Musaffa covers Regeneron and lists REGN as Halal in its Nasdaq 100 and healthcare-technology lists. No ShariaPortfolio coverage of REGN was found.

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).