AstraZeneca to list in New York, retain London listing
By Abigail Townsend
Date: Monday 29 Sep 2025
(Sharecast News) - Anglo-Swedish drugs giant AstraZeneca is to list directly on the New York Stock Exchange, it was announced on Monday.
The company currently has its primary listing in the UK, where it is headquartered, with further listings in Sweden and New York.
However, it can only be traded on Wall Street through American depositary receipts (ADRs). It therefore wants to replace the ADRs, which are typically less liquid than traditional shares, by listing directly in New York, putting it on par with London's listing.
The move will not, however, affect AstraZeneca's status as a UK-listed, headquartered and tax resident company, the firm insisted. It will also continue to be included in the FTSE 100 following the shake-up.
Michel Demare, chair, said harmonising the listing structure would support AstraZeneca's "long-term strategy for sustainable growth", while retaining both its UK headquarters and listings in London and Stockholm.
He continued: "Enabling a global listing structure will allow us to reach a broader mix of global investors, and will make it even more attractive for all our shareholders to have the opportunity to participate in AstraZeneca's exciting future."
Richard Hunter, head of markets at Interactive Investor, said listing directly in New York "could open the door to future valuation boosts".
AstraZeneca noted that the US had the world's "largest and most liquid" public markets by capitalisation, as well as the largest pool of biopharma companies and investors.
Cambridge-based AstraZeneca was formed in 1999, when Sweden's Astra merged with Britain's Zeneca in a blockbuster deal.
Since then, it has become one of the world's biggest drug companies, with a market value of around £170bn and sales in more than 125 countries.
However, global pharma has come under increasing pressure this year, having caught the attention of Donald Trump.
The US president has long threatened significant tariffs on the sector and last week confirmed levies of 100% would be imposed on branded drug imports, effective 1 October, unless companies had already started building manufacturing facilities in the US.
In July, AstraZeneca announced plans to spend $50bn to expand its US manufacturing and research capabilities by 2030.
Shareholders will be asked to vote on the new listing structure at a general meeting on 3 November.
As at 0915 BST, AstraZeneca was 1% at 11,148p.
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