By Fineline Cube 
AstraZeneca (AZ, NASDAQ: AZN) CEO Pascal Soriot is exploring plans to move the British pharmaceutical giant’s stock listing to the U.S., according to Bloomberg. This potential move could significantly impact the London Stock Exchange. Following the news, AstraZeneca’s shares rose 3.2% in London, nearly erasing its year-to-date losses. The company, currently the UK’s largest listed firm, has a market capitalization of approximately GBP 160 billion (USD 220 billion).
CEO’s Dissatisfaction with UK Regulatory Environment
The Times, citing unnamed sources, reported that Soriot has also discussed relocating AstraZeneca’s legal headquarters away from the UK. The CEO is said to be dissatisfied with Britain’s drug regulatory environment and concerned that the country is falling behind the U.S. and China in biopharmaceutical innovation.
Company Response
In response to the reports, AstraZeneca spokesperson Tony Ho Wan Loke stated via email: “We do not comment on speculative news.”-Fineline Info & Tech