The Times reports that AstraZeneca, the U.K.'s most valuable public company, is looking to move its listing from London to the U.S.

London

AstraZeneca, currently the most valuable public company in the United Kingdom, is reportedly exploring the possibility of moving its primary stock market listing from London to the United States. According to The Times, CEO Pascal Soriot is leading the consideration of this potential shift.

The report highlights several factors influencing the decision, including company valuations, tax regimes, and regulatory environments. AstraZeneca's share price has remained relatively stable, and the company has expressed frustration with the UK's approval process for new medicines. The potential move comes shortly after the UK government identified life sciences as a strategic priority.

AstraZeneca reportedly looks to move its listing across the Atlantic

Potentially big news on the listing front as pharmaceutical giant AstraZeneca could be the next firm to move its listing from London to the United States in what would be a body blow to the city's capital markets. That's according to The Times which reports CEO Pascal Sorio is the driver behind the move. Astra is Britain's most valuable public company ranking above the likes of Shell and HSBC and made up almost 8% of the FTSE 100 by weighting as of the end of the first quarter. The report comes barely a week after the UK government targeted life sciences as a priority in its industrial strategy. Probably worth bearing in mind as we looked at the share price to begin with, it's barely moved so far this year. Is that an Astra problem or is it a broader sector issue? And don't forget healthcare and health stocks have been some of the underrated ones where you've seen less movement in those names. It's really been about other big plays, namely around technology, banks, defence. Healthcare is somewhat left behind, Steve. There's a million reasons why companies think about this thing and this kind of move on a regular basis. There's a lot of reasons why they don't move. It is a lot of hassle to move as well. And it's very often used as a lever to pressure the government of the day to give you better concessions in different areas. One main reason why we keep hearing about the smaller companies moving listing is because of the valuations. And of course we've got the whole BP, is it going to be bid for or not bid for debate because it's trading at a discount to its US peers. Chevron and Exxon trade at circa 15 times. BP and Shell trade at circa 9 times, 10 times. So there's the valuation argument. There's the taxation argument as well. And if there's a better taxation regime in another area as well, then they have to think about it. They are stewards of the business. They are there to look after the shareholders. And if it makes sense for shareholders, the CEO almost has to consider this stuff as well. So you've got the taxation side of things. You've got the valuation side of things. And I know we've got a big CFO coming good now. But the other side of things is the regulatory environment as well. And one of the issues that's being talked about in the Times here is the operating environment in the UK, especially restrictions on approval of new medicines. They are finding it frustrating apparently at Astra. Yeah, and then there's the Trump megaphone. Don't forget the pharmaceutical giants have been taking a huge hit from a number of administrations now. Biden first around drug pricing. Trump as well. So being stateside, would that take some to heat off Astra?

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