AstraZeneca Departure Would Deal Devastating Blow to London Stock Exchange Says Lord Lamont

The potential departure of AstraZeneca from the London Stock Exchange would deliver a ‘devastating blow’ to British markets, former Chancellor Lord Lamont warned Parliament today. The Conservative peer emphasised that Britain’s pharmaceutical giants should be viewed as ‘valuable investments to be encouraged’ rather than treated as ‘cash cows’.

The stark warning follows recent reports that AstraZeneca’s Chief Executive, Sir Pascal Soriot, is considering relocating the company’s primary listing to the United States. Sources close to the matter suggest mounting frustration over the UK’s regulatory environment and healthcare policies has influenced this potential decision.

Under Soriot’s leadership, AstraZeneca has evolved into Britain’s most valuable public company, establishing a £1.1 billion global research and development centre in Cambridge. However, the relationship between the pharmaceutical giant and UK authorities has grown increasingly strained, particularly regarding restrictions on innovative medicine approvals by the National Institute for Health and Care Excellence.

The situation was further complicated when AstraZeneca cancelled a £450 million investment in its Liverpool-area flu vaccines facility after the government failed to provide promised financial support. Lord Lamont specifically criticised the government’s delayed life sciences review and its reluctance to support the Speke vaccine plant.

Treasury Minister Lord Livermore responded by emphasising the government’s commitment to maintaining an attractive environment for life sciences companies, stating that these organisations remain “fundamental to our industrial strategy.” The life sciences sector plan is expected to be published “very soon.”

The potential exodus of AstraZeneca follows a concerning trend of London-listed companies with substantial US operations relocating their primary listings across the Atlantic. This pattern has prompted British policymakers to accelerate reforms aimed at enhancing the global appeal of UK capital markets.