AstraZeneca is considering moving its listing on the London Stock Exchange to the US, potentially becoming the latest company to do so.

The Times reported yesterday that the move by the FTSE’s most valuable company would appeal to President Trump’s hopes of drawing investment to the US, after threatening to impose 25% tariffs on pharmaceutical imports.

The newspaper added that AstraZeneca’s chief executive officer, Pascal Soriot, has privately expressed a preference to shift the firm’s listing on multiple occasions and has also discussed relocating the company’s domicile.

The US is AstraZeneca’s largest market, accounting for around 42% of its revenue in the first quarter of the year.

However, The Times stated that Soriot could face opposition from board members and the UK Government if he does pursue the move.

Investment director at AJ Bell, Russ Mould, said that the move looks to be driven by business needs, rather than chasing a higher valuation.

He concluded: "The CEO seems frustrated at the lack of financial support to open new laboratories and manufacturing facilities in Europe and might see a full US stock listing as a stepping stone to receiving better treatment stateside.

"It won’t be an easy move to pull off as unlike many other UK market ‘defectors’ with a dominant US shareholder base like CRH and Flutter, AstraZeneca has a more geographically diverse pool of investors."

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