Latest news with #AstraZenecaPlc
The Star
22-07-2025
- Business
- The Star
AstraZeneca vows to spend US$50bil on US manufacturing boost
LONDON: AstraZeneca Plc plans to invest US$50bil in the United States before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines. The investment will go towards manufacturing as well as research and development, Astra said in a statement. It includes US$4bil for a new facility in Virginia that will make drugs for chronic diseases, Kevin Hassett, director of the US National Economic Council, said on Monday at an event in Washington. 'With the completion of this investment, substantially all of AstraZeneca's pharmaceuticals sold in the United States will be produced in the United States,' he said. Astra will also manufacture its experimental weight-loss pill at the facility in Virginia, following an earlier pledge from rival Eli Lilly & Co, which is also planning to make its obesity pill in the United States. The announcement comes as European drug companies rush to highlight their US investments with the aim of mitigating the impact of tariffs from President Donald Trump. Astra already announced plans in November, a week after Trump's election, to invest US$3.5bil in the United States by the end of 2026, noting at the time that it employs nearly 18,000 people in the country. The company said the latest investment announcement is in addition to that earlier amount. Since Trump's election, European competitors have touted ever-larger spending plans. Switzerland's Novartis AG in April announced plans for US$23bil in US-based infrastructure spending, while cross-town rival Roche Holding AG said it would invest US$50bil. In May, French drugmaker Sanofi announced intent to invest at least US$20bil in the United States by 2030. Pascal Soriot, who's been chief executive officer of Astra since 2012, had urged tariff restraint from US policymakers. This spring, he recommended that US officials exempt medicines from tariffs, arguing that tax incentives are a better way to attract investment in drug development and manufacturing. On Monday, Soriot said he understands the need for countries to have medicines manufactured domestically. 'It's a question of national security,' he said. 'This is a vision that the president and his administration have put out there, and a vision that we totally understand, totally support, and the tariffs are accelerating a movement that we would have made in any case.' Trump has proposed various timelines for tariffs on pharmaceuticals, most recently floating duties that would start as soon as Aug 1. The president said he expects to give companies a year to bring manufacturing to the United States before imposing tariffs as high as 200%. Meanwhile, Soriot has raised concerns in the United Kingdom about his company's commitment to its home country. He has long complained about the United Kingdom's regulatory environment, which he says is a threat to hold the nation back from staying competitive with the United States and China. In January, Astra abandoned plans for a £450mil vaccine manufacturing plant in Liverpool. The company operates 17 manufacturing sites in 12 US states. Earlier this month, British paper The Times reported that Soriot is considering moving the company's stock listing to the United States. — Bloomberg
Malaysian Reserve
02-07-2025
- Business
- Malaysian Reserve
London IPOs hit 28-Year low amid AstraZeneca exit concerns
LONDON marked the slowest first half-year for IPO volume since 1997, a grim milestone punctuated by a report that AstraZeneca Plc's chief executive officer wants to move the company's listing to the US. With companies going where liquidity is abundant, a steady drip of firms being taken private, and too few initial public offerings coming along to replace them, pressure is mounting to reverse the slow but inexorable shrinking of London's historic trading venue. More than $100 billion worth of London-listed companies have announced or executed plans to move to New York in recent years, Bloomberg calculations show. AstraZeneca CEO Pascal Soriot wants to move the drugmaker's stock listing to the US, the Times reported Monday, citing his frustration with the UK's regulatory regime for drugs and concern that the country's life sciences industry is falling behind the US and China. An exit from the exchange by the most valuable British company would send shockwaves across the financial sector, and risk inviting more firms to join the confidence-eroding flow of listings leaving the City. That would make the job of attracting new IPOs even harder. Companies listing in London raised less than £200 million ($274 million) in the last six months, according to data compiled by Bloomberg, and turnover for stocks like AstraZeneca is far greater for its US depositary receipts than in London. A move by AstraZeneca would accelerate the fearsome trend of companies voluntarily moving their listings to the US. Wise Plc is the latest of the bunch, revealing last month it would relocate its primary listing to New York in search of better liquidity and new investors, following in the footsteps of Flutter Entertainment Plc, CRH Plc and Indivior Plc. When asked about the prospect of AstraZeneca moving its listing, UK Prime Minister Keir Starmer's spokesman, Tom Wells, said he wouldn't comment on 'commercial decisions of firm.' A representative for the London Stock Exchange declined to comment. Just as concerning is a trend toward UK-listed companies receiving takeover offers this year, potentially removing them from the exchange. Spectris Plc, Deliveroo Plc, and Assura Plc are among the 48 pending or completed deals since January 1 targeting London-traded firms, data compiled by Bloomberg show. 'The scale of M&A and lack of IPOs is resulting in a material reduction in the number of UK-listed growth companies,' Charles Hall, head of research at Peel Hunt said in a research note. 'We are seeing continued outflows of UK capital, which need to be addressed through pension, ISA, and stamp duty reform.' Dealmakers say the second half of the year may see a few more IPOs come to market, potentially paving the way for a stronger rebound from 2026. 'We are expecting a tentative recovery in the fourth quarter with a number of transactions not quite getting done before the summer break,' said Tom Bacon, a partner in BCLP's M&A and corporate finance team. 'This will not be the strong re-opening everyone is hoping for, but could start to build some momentum.' Professional services firm MHA Plc was the biggest offering so far in 2025, raising £98 million on London's junior bourse AIM. Meanwhile, Glencore Plc-backed Cobalt Holdings Plc called off what could have been London's largest IPO in two years, and fast-fashion retailer Shein has shifted its IPO preparations to Hong Kong from London, people familiar with the matter have said. Some companies that have been reported to be considering a London IPO this year are Italy's NewPrinces SpA, Banco Santander SA-backed payments firm Ebury and Uzbek gold miner Navoi Mining & Metallurgical Co. The biggest boost would come next year from the planned IPO of €19 billion ($22.4 billion) software giant Visma. Private equity group Hg Capital tentatively picked the British capital for the listing, attracted by London's listing reforms, particularly an incoming rule allowing euro-denominated stocks into flagship FTSE indexes, Bloomberg has reported. 'It doesn't feel like there's a queue of IPOs lined up in London, but there are some candidates there,' Andreas Bernstorff, head of equity capital markets at BNP Paribas SA said. London is arguably hardest-hit among European exchanges, but it isn't alone. Europe suffered its worst first half for IPO volumes in more than a decade, with bourses in Milan, Paris and Zurich seeing lower volumes than London, data compiled by Bloomberg show. Part of the issue this year has been the bout of volatility unleashed by US President Donald Trump's tariffs, which shut the market for weeks and prompted some issuers to delay their plans for going public. Listings in London where capital was not being raised provided a ray of hope. Last month, Anglo American's Valterra Platinum Ltd. completed a secondary listing in London, following in the footsteps of International Paper Co., which added a London listing as part of its takeover of rival DS Smith Plc. Greece's Metlen Energy & Metals SA said last week it expects to start trading in London in early August, although it won't raise any funds. To be sure, the UK was the busiest venue in Europe for overall share sales volume so far this year given the boon in follow-on issuances, including £5 billion worth of shares sold by Pfizer Inc. in Sensodyne-maker Haleon Plc. Rosebank Industries Plc, which listed last year on the AIM exchange, was able to raise £1.14 billion from investors to fund an acquisition in the US. 'For companies that have a compelling equity story and a strong management team, the London market functions very effectively,' said Jonathan Parry, a capital markets partner at White & Case. –BLOOMBERG
Bloomberg
02-07-2025
- Business
- Bloomberg
London's New Listings Hit 28-Year Low as AstraZeneca Weighs Exit
London marked the slowest first half-year for IPO volume since 1997, a grim milestone punctuated by a report that AstraZeneca Plc 's chief executive officer wants to move the company's listing to the US. With companies going where liquidity is abundant, a steady drip of firms being taken private, and too few initial public offerings coming along to replace them, pressure is mounting to reverse the slow but inexorable shrinking of London's historic trading venue. More than $100 billion worth of London-listed companies have announced or executed plans to move to New York in recent years, Bloomberg calculations show.
Bloomberg
01-07-2025
- Business
- Bloomberg
AstraZeneca Rises on Report CEO Wants to Move Listing to US
AstraZeneca Plc 's shares rose after a report that Chief Executive Officer Pascal Soriot wants to move the British drugmaker's stock listing to the US, in what would be a major blow to the UK's equity markets. Soriot has also discussed moving AstraZeneca's domicile, the Times said, citing people familiar with the matter it didn't identify. The executive is frustrated with the UK's regulatory regime for drugs and is concerned the country is falling behind the US and China, it said.
Yahoo
02-06-2025
- Business
- Yahoo
AstraZeneca Highlights Significant Gains Across Three Major Cancer Trials At ASCO
AstraZeneca Plc (NASDAQ:AZN) on Monday released results from three Phase 3 clinical trials at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting: DESTINY-Breast09, MATTERHORN, and SERENA-6. In the DESTINY-Breast09 trial, Enhertu (trastuzumab deruxtecan) combined with pertuzumab was evaluated as a first-line treatment for HER2-positive metastatic breast cancer, compared to a standard regimen of a taxane, trastuzumab, and pertuzumab (THP). Topline data were shared in indicated that the Enhertu combination reduced the risk of disease progression or death by 44%. Median progression-free survival (PFS) reached 40.7 months with the Enhertu regimen versus 26.9 months for THP, a benefit observed across patient subgroups. Investigator-assessed median PFS was 40.7 months for the Enhertu arm and 20.7 months for THP. The confirmed objective response rate was 85.1% for the Enhertu combination and 78.6% for THP, with 58 complete responses in the Enhertu group compared to 33 with THP. The median duration of response was 39.2 months for the Enhertu combination and 26.4 months for THP. Overall survival data was not yet mature, though an early trend favored the Enhertu combination. The MATTERHORN trial assessed Imfinzi (durvalumab) with standard FLOT chemotherapy as a perioperative treatment for resectable, early-stage, and locally advanced gastric and gastroesophageal junction (GEJ) cancers, compared to chemotherapy alone. Topline data were released in March. A planned interim analysis showed that the Imfinzi-based regimen led to a 29% reduction in the risk of disease progression, recurrence, or death. Median event-free survival (EFS) was not reached in the Imfinzi arm, compared to 32.8 months in the chemotherapy-alone arm. The estimated 24-month EFS rate was 67.4% for the Imfinzi regimen and 58.5% for chemotherapy alone. A trend towards improved overall survival was noted for the Imfinzi-based regimen, with formal assessment to follow. The SERENA-6 trial investigated camizestrant combined with a cyclin-dependent kinase (CDK) 4/6 inhibitor (palbociclib, ribociclib or abemaciclib) in patients with hormone receptor (HR)-positive, HER2-negative advanced breast cancer whose tumors developed an ESR1 mutation during first-line treatment with an aromatase inhibitor (AI) and a CDK4/6 inhibitor. Topline data were shared in February. The trial compared switching to the camizestrant combination against continuing the AI plus CDK4/6 inhibitor. The camizestrant combination reduced the risk of disease progression or death by 56%. Median PFS was 16.0 months for patients who switched, versus 9.2 months for those continuing the AI combination. The median time to deterioration of global health status was 23.0 months for the camizestrant arm and 6.4 months for the AI combination arm. While data for time to second disease progression and overall survival were immature, a trend favored the camizestrant combination for PFS2. Price Action: AZN stock is trading lower by 0.95% at $72.14 at last checkMonday. Read Next:Photo by Piotr Swat Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? ASTRAZENECA (AZN): Free Stock Analysis Report This article AstraZeneca Highlights Significant Gains Across Three Major Cancer Trials At ASCO originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
