Breakingviews - AstraZeneca's Move to New York Signals Potential London Departure

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Oct 07 2025

0mins

Source: Reuters

AstraZeneca's U.S. Listing Impact: AstraZeneca plans to list shares directly in New York while maintaining its primary listing in the UK, potentially reducing UK tax revenues and affecting London's status as a financial center.
Financial Consequences for the UK: The shift could lead to a loss of over £360 million in stamp duty for the UK government, with other companies possibly following suit, exacerbating the financial impact.
Long-term Threat to UK Listings: As more companies trade in the U.S., there is a risk they may consider moving their primary listings and headquarters there, further diminishing the UK's financial landscape.
Government Response Options: The UK government faces tough choices, such as scrapping stamp duty to attract trading or enacting laws to prevent UK trades from settling in New York, both of which carry significant risks.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.