Is OGN (Organon & Co.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, OGN is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in OGN.

Organon & Co. is a global healthcare company specializing in prescription therapies, primarily focusing on women's health and biosimilars. Its key products include long-acting contraceptives like Nexplanon, immunology biosimilars such as Brenzys and Hadlima, and various cardiovascular medicines. For Muslim investors, OGN currently holds a Doubtful status under AAOIFI standards. While its pharmaceutical manufacturing business is perfectly halal and it successfully passes the cash and interest income screens, the stock fails the critical debt screening, meaning it is not suitable for a strictly Shariah-compliant portfolio at this time. The primary concern from an Islamic finance perspective is the company's massive debt burden, with interest-bearing debt reaching 256.6% of its market capitalization against a strict 33% limit. Fortunately, its interest-generating income is practically zero (0.00% of revenue), and cash reserves sit at a safe 16.7% of its market cap. Halal investors interested in Organon's impactful healthcare portfolio must wait for a significant reduction in its corporate debt levels or a substantial increase in its market capitalization before considering an investment. Organon & Co. operates in the Healthcare sector under the Drug Manufacturers - General industry and is headquartered in Jersey City, NJ, US. The company is led by CEO Joseph T. Morrissey Jr. and employs approximately 10,000 people.

OGN was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. OGN passed 3 of these 4 screens.

OGN was last screened on 2026-04-27. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.