AstraZeneca Exit Wouldn’t Doom London Markets: Chris Hughes

Some home truths for London: One, it makes sense for AstraZeneca Plc to move its main listing to New York, and two, such a terrible symbolic blow for the UK would be hard to stop. The goal — if it happens — should be to minimize the collateral damage, and foster a successor UK-listed global pharmaceuticals company.

AstraZeneca has the largest market value on the London Stock Exchange, exceeding £160 billion ($216 billon). It delivered a British Covid vaccine in partnership with Oxford University and saw off an unwanted US takeover approach in 2014. A listing switch would provide the ultimate pretext for ...