New York, January 20, 2026, 11:21 EST — Regular session
AstraZeneca PLC’s U.S.-listed shares dropped Tuesday following the announcement of dates to withdraw its American depositary shares from Nasdaq and switch to a direct listing of ordinary shares on the New York Stock Exchange. The stock fell 4.4%, hitting $90.23 in late morning trading.
The change replaces depositary-share wrappers with ordinary shares for trading in the U.S. It’s mostly a technical adjustment, yet it can still disrupt flows as brokers, index trackers, and arbitrage desks reposition ahead of the transition.
AstraZeneca announced in a U.S. regulatory filing that it plans to voluntarily pull its American depositary shares and some debt securities from Nasdaq after market close on January 30. The company’s ordinary shares and debt will then begin trading on the NYSE under the same “AZN” ticker starting February 2. (SEC)
The company describes the move as a step in a shareholder-backed plan to “harmonise” its listing setup, allowing investors to trade their stakes across the London Stock Exchange, Nasdaq Stockholm, and the NYSE. Its depositary shares stand for ordinary shares on a two-for-one basis. (AstraZeneca)
The venue shift came amid a risk-off mood for European assets as U.S. President Donald Trump threatened tariffs on Europe over Greenland, pushing London shares down. AstraZeneca’s stock slid 2.6%, weighing on the pharma sector, Reuters noted. “What happens next for financial markets will ultimately depend on Trump’s actions,” said Kathleen Brooks of XTB. (Reuters)
Reuters reported earlier that AstraZeneca plans to move from trading its ADSs on Nasdaq to a direct listing of its $0.25 ordinary shares on the NYSE, while maintaining its listings in London and Stockholm. (Reuters)
In drug development updates, Daiichi Sankyo announced on January 19 that the European Medicines Agency has validated its application for Enhertu combined with pertuzumab as a first-line treatment for certain HER2-positive metastatic breast cancer patients. Ken Takeshita, Daiichi Sankyo’s global head of R&D, called the EU validation “an important step in moving us closer.” (Business Wire)
A “Type II variation” refers to a request to amend the marketing authorisation of an already approved medicine. Validation indicates that regulators have accepted the submission and started a scientific review. This is an initial phase and does not ensure eventual approval.
The listing reshuffle doesn’t reflect on AstraZeneca’s fundamentals, yet it could trigger short-term volatility if certain investors need to alter custody setups or trim their stakes before the exchange swap. Any broader sell-off or issues during the transition might intensify the impact.
Investors are eyeing AstraZeneca’s full-year and Q4 results due February 10 for fresh insights on sales trends and pipeline developments. Management is also expected to address any practical concerns tied to the shift for U.S. shareholders. (AstraZeneca)
