London, January 24, 2026, 19:48 GMT — Markets have closed
- A U.S. appeals court has revived a terrorism-funding lawsuit against AstraZeneca and several other companies linked to Iraq.
- AstraZeneca shares closed higher in New York on Friday and edged up in London; the ruling was announced after U.S. markets closed
- Investors will be eyeing Monday’s reaction closely, alongside the company’s planned switch from Nasdaq to NYSE at the end of January
A U.S. appeals court on Friday revived a lawsuit accusing AstraZeneca and several major drug and medical-device companies of funneling millions in cash and medical supplies to fund terrorism in Iraq. The plaintiffs claim the firms made corrupt payments to Jaysh al‑Mahdi, a militia backed by Hezbollah, to win contracts from the Iraqi Health Ministry. They are seeking unspecified damages under the U.S. Anti‑Terrorism Act. 1
The announcement came after the U.S. market closed, forcing traders to factor in the risk when trading resumes Monday. It also casts a sudden shadow over a stock that had been steadily climbing in recent days.
This is crucial now as AstraZeneca enters a technical week in the U.S. The firm is currently adjusting how its shares trade stateside, a move that can shake up short-term bets even before any court decision drops.
AstraZeneca’s U.S.-listed ADRs gained 1.37% on Friday, closing at $92.95—still roughly 3.69% shy of a 52-week high hit earlier this month, MarketWatch reported. Over in London, shares crept up 20 pence, or 0.15%, according to Hargreaves Lansdown data. 2
AstraZeneca announced this week it will end the Nasdaq listing of its American depositary shares—certificates representing foreign ownership—and certain U.S. debt securities after markets close on Jan. 30. Starting Feb. 2, the company plans to list its ordinary shares and those debt securities on the New York Stock Exchange under the same “AZN” ticker. This move aims to align trading across London, Stockholm, and New York. 3
Stepping away from legal news, AstraZeneca Canada announced Ontario has begun publicly funding Tagrisso and Calquence via its new Funding Accelerated for Specific Treatments (FAST) programme. “Public funding of Tagrisso and Calquence through FAST shows what is possible when regulators, payers, clinicians, and industry work together,” said Gaby Bourbara, President of AstraZeneca Canada. 4
The key question now: will the lawsuit linger as a trading overhang or fade after a day? The court didn’t decide on liability but did clear the way for the case to move forward, leaving investors on edge with every new update.
Litigation risk tends to linger longer than traders prefer. If the case gets bogged down in procedural wrangling, it could dampen sentiment. Plus, switching listings may trigger short bursts of volatility as liquidity fragments across different trading venues.
Monday will bring the initial reaction to the court ruling. After the market closes on Jan. 30, Nasdaq trading is set to end, with the New York Stock Exchange taking over starting Feb. 2. Looking ahead, AstraZeneca plans to release its full-year and fourth-quarter 2025 results on Feb. 10. 5
