This Halal Stock in Biopharma may go up 46%
This biopharmaceutical company represents a compelling investment opportunity. The blend of innovative drug development, strategic market expansions, and solid financial health underscores its potential as a standout performer in the bustling healthcare sector. The business itself is halal and brings societal benefit. It has little to no impure income making it an excellent choice for the Halal Stock Advisor.
AssalamuAlykom,
I was checking INCY financials (https://finance.yahoo.com/quote/INCY/financials/), and I can see positive interest income in their income statement , does not that make it impure and not halal if the percentage to the total income is significant?
Walaikum assalam wa rahmatullah, I didn’t seem to find any from our provider. I just checked their statements and it is at about 2%, which is fine.
https://investor.incyte.com/static-files/49335409-2285-4f8d-8933-8d0ad96b99ad
Here is the statement and at the end of page 74 I found these lines “Interest income and other, net. Interest income and other, net, for the years ended December 31, 2023 and 2022 was $172.3 million and $39.9 million, respectively. The increase in interest income and other, net primarily relates to an increase in interest earned on our cash equivalents and marketable securities generally due to higher interest rates.”
But we’re looking at their Q2 balance sheet brother, not the annual report.