AstraZeneca Upgrades US Listing as It Turns Away From UK (3)

AstraZeneca Plc, the UK’s biggest drugmaker, plans to list regular shares on the New York Stock Exchange to attract more investors in a further tilt toward the US, where it makes almost half of its revenue.

A direct listing of Astra’s ordinary shares will replace the existing American Depositary Receipts on the Nasdaq, the drugmaker said in a statement Monday. Astra will keep its London trading and UK headquarters.

The change reflects the rising importance of the US for Astra — and in turn, a relative shift away from its home country as Chief Executive Officer Pascal Soriot looks ...