AstraZeneca to List on New York Stock Exchange While Retaining London Ties

Published: 29 September ‘2025. The English Chronicle Desk

Pharmaceutical giant AstraZeneca has announced plans to list its shares directly on the New York Stock Exchange, while reaffirming its commitment to maintaining its London listing and UK headquarters. The FTSE 100 company said the move would replace its existing American depositary receipts (ADRs) traded on Nasdaq, providing US investors with direct access to its stock.

Michel Demaré, AstraZeneca’s chair, said the proposed structure is intended to broaden the company’s global investor base and offer all shareholders a more seamless opportunity to participate in the company’s future growth. “This approach allows us to reach a wider mix of global investors and makes AstraZeneca’s exciting future accessible to all our shareholders,” he said.

AstraZeneca, the second-largest firm on the FTSE 100 with a market capitalization of £170.5 billion, will retain its headquarters in Cambridge, England, and continue its listing on the London Stock Exchange. However, the company’s ongoing commitment to the UK has come under scrutiny following the pause of a planned £200 million expansion at its Cambridge research site, a project expected to create 1,000 jobs. The decision is part of a series of delayed or cancelled initiatives amid disputes with the government over drug pricing policies.

Earlier this year, AstraZeneca abandoned a £450 million investment in its vaccine manufacturing facility in Speke, Merseyside, citing reductions in government support despite months of negotiations. Reports have also suggested that long-serving chief executive Sir Pascal Soriot has considered a full shift of the company’s stock market listing to the United States, citing frustrations with the UK’s regulatory approach, including the rejection of its breast cancer drug Enhertu. Soriot has previously warned that the UK and European biotech sectors risk falling behind competitors in the US and China.

The US remains AstraZeneca’s largest market, accounting for $23.2 billion (£17.25 billion) in revenue during its 2024 financial year, roughly 43% of the company’s total income.

A complete move of AstraZeneca’s listing to New York would represent a significant loss for the London Stock Exchange, which has seen several high-profile departures in recent years, including Ashtead, Flutter Entertainment, CRH, and Smurfit Westrock. While the UK government may attempt to influence such a decision given life sciences’ strategic importance to the economy, it holds no formal authority to prevent the move.

Soriot remains the highest-paid chief executive among FTSE 100 companies, receiving £16.85 million in 2023, up from £15.3 million in 2022, reflecting his pivotal role in steering AstraZeneca through significant corporate changes and global market challenges.