A flag with the logo of pharmaceutical company AstraZeneca flies outside their facility for biological medicines in Södertälje, south of Stockholm, Sweden on February 8, 2022. Photo by Jonathan NACKSTRAND / AFP.
London: British pharmaceutical giant AstraZeneca on Tuesday said trading of its shares on the New York Stock Exchange will start from February, in its latest shift towards the United States.
AstraZeneca had announced in September plans for a secondary listing on Wall Street, shortly after it announced plans to invest $50 billion by 2030 on boosting its US manufacturing and research operations.
Britain's largest drugmaker will remain headquartered in the UK and keep its primary listing on London's top-tier FTSE 100 index.
AstraZeneca said Tuesday that its New York Stock Exchange trading will start on February 2.
"The direct listing is a part of AstraZeneca's shareholder approved plan to harmonise its share listing structure to deliver a global listing for global investors in a global company," it added in a statement.
It comes after the United States in December exempted British pharmaceuticals from import tariffs under a unique deal which sees the UK increase spending on some drugs, including US treatments, by 25 percent.
Separately, the White House has delayed for three years tariffs for AstraZeneca after it agreed to invest in US manufacturing capacity.
The pharmaceutical industry remains a key target of President Donald Trump, with drugs tariffs imposed on other countries as he demands companies switch operations to the United States.
