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AstraZeneca PLC (LON:AZN) announced plans to transfer its U.S. trading venue from Nasdaq to the New York Stock Exchange (NYSE), a move designed to broaden access to global investors and enhance long-term growth opportunities. The Anglo-Swedish pharmaceutical giant emphasized that it will remain headquartered and tax resident in the United Kingdom, while continuing to maintain listings in London and Stockholm.
Following the announcement, AstraZeneca shares gained 1.5% in early London trading, reflecting investor optimism about the transition. Chair Michel Demare noted the strategic importance of the shift, explaining that a harmonized global listing structure will help support sustainable growth and provide exposure to a more diverse mix of institutional and retail investors, particularly within the U.S. market.
The decision comes amid mounting pressure on the U.K. equity market as major corporations seek higher valuations abroad. Several well-known firms, including Unilever with its ice cream business spin-off and commodities group Glencore, have explored alternatives to London. AstraZeneca’s move underscores this broader trend of companies reassessing the appeal of the London Stock Exchange.
Despite speculation earlier this year that AstraZeneca might abandon its London presence entirely, the company confirmed it remains committed to its U.K. base. However, the drugmaker has scaled back certain domestic investments, including shelving a planned £200 million expansion of its Cambridge research facility, citing challenging business conditions in the country.
Political and regulatory pressures are also influencing AstraZeneca’s global strategy. With the U.S. government taking a tougher stance on the pharmaceutical industry, including calls for greater domestic investment, AstraZeneca aims to balance market access with operational flexibility. The proposal still requires shareholder approval, with a vote scheduled for November 3.
By securing a NYSE listing while retaining its European bases, AstraZeneca is positioning itself to attract a wider pool of global investors, strengthen its market presence, and support its long-term strategy for sustainable growth.
