29th Sep 2025 09:17
(Alliance News) - AstraZeneca PLC on Monday announced plans to upgrade its US listing but said it will keep its London trading and UK headquarters.
The Cambridge, England-based pharmaceuticals company said it plans to harmonise its share listing structure but will continue to be listed, headquartered and tax resident in the UK. It will retail its FTSE 100 status.
Recent reports had suggested the FTSE 100-listed company could quit London and have its main listing on Wall Street.
The company is recommending to shareholders a harmonised listing structure for its shares across the London Stock Exchange, Nasdaq Stockholm and the New York Stock Exchange.
This requires upgrading the existing US listing with a direct listing of ordinary shares on the NYSE, replacing the existing US listing of American depositary receipts.
This means shareholders will be able to trade their interests in AstraZeneca across the three markets.
Chair Michel Demare said the global listing structure will "allow us to reach a broader mix of global
investors."
AstraZeneca pointed out the US has the world's "largest and most liquid" public markets by capitalisation, and the "largest pool of innovative biopharma companies and investors".
The move will ensure that the company has the "flexibility to access the broadest available pool of capital," the firm added.
Shares in AstraZeneca rose 1.3% to 11,146.00 pence each in London on Monday morning.
In a separate release, AstraZeneca said its drug Enhertu showed a "highly statistically significant and clinically meaningful improvement" in invasive disease-free survival in patients with high-risk early breast cancer compared to trastuzumab emtansine.
"This landmark trial is the first to directly compare Enhertu and T-DM1 in early breast cancer, and the results clearly show that Enhertu delivers superior outcomes, indicating that it may be a better option for patients with high-risk HER2-positive disease in the post-neoadjuvant setting," said Executive Vice President Susan Galbraith.
Enhertu was discovered by Tokyo-based pharmaceutical company Daiichi Sankyo Co Ltd and is being jointly developed and commercialised by the two companies. Daiichi Sankyo noted the announcement on Enhertu.
Daiichi Sankyo closed down 0.4% at JPY3,295 in Tokyo on Monday.
By Jeremy Cutler, Alliance News reporter
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