AstraZeneca Plans US Listing Amid London Stock Market Decline

AstraZeneca's CEO Pascal Soriot is considering moving the company's stock listing from the London Stock Exchange to the U.S., citing frustrations with the U.K.'s regulatory environment, including rules around new medicine approvals and drug pricing systems. This potential move threatens to deliver a significant blow to London's status as a global financial hub, especially given AstraZeneca's position as the largest company on the FTSE 100 index. The shift reflects a broader trend of firms relocating to markets with greater liquidity, as London's IPO volume has hit its lowest point since 1997 and multiple major companies have moved or are planning to move their listings to New York. Soriot has also criticized the U.K. for over-regulation and increasing corporate taxes, contrasting this with the more favorable investment climate in the U.S. and China, where AstraZeneca is heavily investing. The loss of AstraZeneca could trigger a domino effect, prompting other multinational British firms to follow suit, further weakening London's financial market and undermining the U.K.'s industrial strategy focused on life sciences.