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AstraZeneca laid out plans on Monday to switch to a direct listing of its shares in the United States, as the drugmaker seeks to maximise gains from a booming U.S. stock market, even as it said it was not exiting London. The decision to remain UK-based and listed there will be of some relief to British investors after media reports suggested the Anglo-Swedish drugmakerLondon’s most valuable companywas considering ditching its UK listing in favour of the U.S. London’s stock market has been shrinking due to companies moving away for higher valuations and access to deeper capital markets elsewhere, particularly the U.S., prompting listing reforms from regulators to score some wins. AstraZeneca said it would list its shares on the New York Stock Exchange and move away from the current depositary receipts structure, with trading expected on February 2, 2026. Trading in fully listed stocks is generally more liquid than in ADRs, attracting more investors. The company will remain headquartered in the UK and listed in London and Stockholm, with the plan subject to a shareholders’ vote on November 3. Its London-listed shares rose roughly 1% on Monday, taking the company’s gains for the year to about 6%. They have underperformed domestic rival GSK, which is up 13.6%, and the UK’s broader, blue-chip FTSE 100 index which has gained 14.2%. Commitment to UK Nearly 22% of AstraZeneca’s shareholder base is from North America, its biggest, according to LSEG data, in line with other top UK-based blue-chip companies. Iain Pyle at Aberdeen Group, a shareholder, said the main takeaway from the announcement was AstraZeneca’s “re-commitment” to the primary listing in the UK. “From our point of view, (AstraZeneca) remains an attractive investment on a fundamental basis, with a broad pipeline still undervalued by the market – the listing location doesn’t alter that view.” AstraZeneca Chair Michel Demare said the proposed “harmonised listing structure” would support the company’s long-term growth strategy. “Enabling a global listing structure will allow us to reach a broader mix of global investors,” he said. A spokesperson for Britain’s Treasury welcomed AstraZeneca retaining its London listing, while the London Stock Exchange said that there would be no change to the drugmaker’s place on the FTSE 100 following the switch. Peel Hunt analysts viewed AstraZeneca’s plans to stay in the UK as positive in the short term, but cautioned that U.S. success might prompt others to follow suit. U.S. investment and visibility Over the past decade, the FTSE 100 has severely underperformed U.S. markets, gaining only 53% while the S&P 500 more than tripled in value. Wall Street indices, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, hit multiple record highs this month, broadening the market’s appeal. Companies are also ramping up U.S. investments to avoid hefty tariffs threatened by President Donald Trump’s administration. AstraZeneca has pledged to invest $50 billion by 2030 in manufacturing in the U.S., its biggest market by sales. It has also said it will cut some direct-to-patient U.S. drug prices as drugmakers face pressure from the Trump administration to reduce prices. The U.S. market remains pivotal for AstraZeneca, accounting for more than 40% of revenue in 2024. The company is betting on its U.S. expansion and expected launches to reach $80 billion in annual revenue by 2030 and offset generic competition. Earlier this month, AstraZeneca paused a planned 200 million pound ($268.80 million) investment in its research site in Cambridge, England, the latest drugmaker to pull back from the UK, citing a tough business environment. ($1 = 0.7440 pounds) Pushkala Aripaka; Additional reporting by Maggie Fick, Josephine Mason, Sarah Young, Charlie Conchie, and Danilo Masoni, Reuters
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In the absence of stronger federal regulation, some states have begun regulating apps that offer AI therapy as more people turn to artificial intelligence for mental health advice. But the laws, all passed this year, don’t fully address the fast-changing landscape of AI software development. And app developers, policymakers and mental health advocates say the resulting patchwork of state laws isn’t enough to protect users or hold the creators of harmful technology accountable. The reality is millions of people are using these tools and theyre not going back, said Karin Andrea Stephan, CEO and co-founder of the mental health chatbot app Earkick. ___ EDITORS NOTE This story includes discussion of suicide. If you or someone you know needs help, the national suicide and crisis lifeline in the U.S. is available by calling or texting 988. There is also an online chat at 988lifeline.org. ___ The state laws take different approaches. Illinois and Nevada have banned the use of AI to treat mental health. Utah placed certain limits on therapy chatbots, including requiring them to protect users health information and to clearly disclose that the chatbot isnt human. Pennsylvania, New Jersey, and California are also considering ways to regulate AI therapy. The impact on users varies. Some apps have blocked access in states with bans. Others say they’re making no changes as they wait for more legal clarity. And many of the laws don’t cover generic chatbots like ChatGPT, which are not explicitly marketed for therapy but are used by an untold number of people for it. Those bots have attracted lawsuits in horrific instances where users lost their grip on reality or took their own lives after interacting with them. Vaile Wright, who oversees health care innovation at the American Psychological Association, agreed that the apps could fill a need, noting a nationwide shortage of mental health providers, high costs for care, and uneven access for insured patients. Mental health chatbots that are rooted in science, created with expert input, and monitored by humans could change the landscape, Wright said. This could be something that helps people before they get to crisis, she said. Thats not whats on the commercial market currently. That’s why federal regulation and oversight are needed, she said. Earlier this month, the Federal Trade Commission announced it was opening inquiries into seven AI chatbot companies including the parent companies of Instagram and Facebook, Google, ChatGPT, Grok (the chatbot on X), Character.AI and Snapchat on how they “measure, test and monitor potentially negative impacts of this technology on children and teens. And the Food and Drug Administration is convening an advisory committee Nov. 6 to review generative AI-enabled mental health devices. Federal agencies could consider restrictions on how chatbots are marketed, limit addictive practices, require disclosures to users that they are not medical providers, require companies to track and report suicidal thoughts, and offer legal protections for people who report bad practices by companies, Wright said. Not all apps have blocked access From “companion apps to AI therapists to mental wellness apps, AIs use in mental health care is varied and hard to define, let alone write laws around. That has led to different regulatory approaches. Some states, for example, take aim at companion apps that are designed just for friendship, but don’t wade into mental health care. The laws in Illinois and Nevada ban products that claim to provide mental health treatment outright, threatening fines up to $10,000 in Illinois and $15,000 in Nevada. But even a single app can be tough to categorize. Earkick’s Stephan said there is still a lot that is very muddy about Illinois’ law, for example, and the company has not limited access there. Stephan and her team initially held off calling their chatbot, which looks like a cartoon panda, a therapist. But when users began using the word in reviews, they embraced the terminology so the app would show up in searches. Last week, they backed off using therapy and medical terms again. Earkicks website described its chatbot as Your empathetic AI counselor, equipped to support your mental health journey, but now its a chatbot for self care. Still, were not diagnosing, Stephan maintained. Users can set up a panic button to call a trusted loved one if they are in crisis and the chatbot will “nudge users to seek out a therapist if their mental health worsens. But it was never designed to be a suicide prevention app, Stephan said, and police would not be called if someone told the bot about thoughts of self-harm. Stephan said she’s happy that people are looking at AI with a critical eye, but worried about states’ ability to keep up with innovation. “The speed at which everything is evolving is massive, she said. Other apps blocked access immediately. When Illinois users download the AI therapy app Ash, a message urges them to email their legislators, arguing misguided legislation has banned apps like Ash “while leaving unregulated chatbots it intended to regulate free to cause harm. A spokesperson for Ash did not respond to multiple requests for an interview. Mario Treto Jr., secretary of the Illinois Department of Financial and Professional Regulation, said the goal was ultimately to make sure licensed therapists were the only ones doing therapy. Therapy is more than just word exchanges, Treto said. “It requires empathy, it requires clinical judgment, it requires ethical responsibility, none of which AI can truly replicate right now. One chatbot company is trying to fully replicate therapy In March, a Dartmouth University-based team published the first known randomized clinical trial of a generative AI chatbot for mental health treatment. The goal was to have the chatbot, called Therabot, treat people diagnosed with anxiety, depression or eating disorders. It was trained on vignettes and transcripts written by the team to illustrate an evidence-based response. The study found users rated Therabot similar to a therapist and had meaningfully lower symptoms after eight weeks compared with people who didn’t use it. Every interaction was monitored by a human who intervened if the chatbots response was harmful or not evidence-based. Nicholas Jacobson, a clinical psychologist whose lab is leading the research, said the results showed early promise but that larger studies are needed to demonstrate whether Therabot works for large numbers of people. The space is so dramatically new that I think the field needs to proceed with much greater caution that is happening right now, he said. Many AI apps are optimized for engagement and are built to support everything users say, rather than challenging peoples thoughts the way therapists do. Many walk the line of companionship and therapy, blurring intimacy boundaries therapists ethically would not. Therabots team sought to avoid those issues. The app is still in testing and not widely available. But Jacobson worries about what strict bans will mean for developers taking a careful approach. He noted Illinois had no clear pathway to provide evidence that an app is safe and effective. They want to protect folks, but the traditional system right now is really failing folks, he said. So, trying to stick with the status quo is really not the thing to do. Regulators and advocates of the laws say they are open to changes. But today’s chatbots are not a solution to the mental health provider shortage, said Kyle Hillman, who lobbied for the bills in Illinois and Nevada through his affiliation with the National Association of Social Workers. Not everybody who’s feeling sad needs a therapist, he said. But for people with real mental health issues or suicidal thoughts, “telling them, I know that theres a workforce shortage but here’s a bot’ that is such a privileged position. ___ The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institutes Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content. Devi Shastri, Associated Press health writer
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Do you suffer from time anxiety? Before you answer, consider if any of the following scenarios sound familiar: You get a late start, and the whole day you’re running behind. You always feel rushed, to the point that you start to get panicky. You look at your task list at the end of the day, and you’ve only finished half of what you planned. You constantly feel that time is slipping away. In other words, you’re constantly battling the feeling that theres simply not enough time. But what if you could reframe the way you think about time? Well, you can. It involves learning a little ancient Greek, and getting to know that societys approach to time. As you do, youll have an emotionally intelligent tool that allows you to see time through a different lens. I like to call this tool the Kairos Rule. What is the Kairos Rule? And how can it help you manage your emotions, reduce anxiety, and make the most of your time? To answer those questions, lets take a lesson in ancient Greek. (Sign up here for my free email emotional intelligence course.) Chronos, Kairos, and the ancient Greek view of time In her book Tiny Experiments, neuroscientist Anne-Laure Le Cunff explains how the ancient Greeks had not one, but two words to speak of time: Chronos refers to quantity. This is the time of clocks and calendars, productivity tools, and linear goals. Then, there’s kairos. Kairos expresses the quality of time, as opposed to the quantity. It recognizes each moment as unique, rather than a fixed, mechanical unit. Le Cunff describes moments of kairos as those instances “suspended in time,” where you are caught up in a moment with loved ones, or when youre deeply engaged in self-reflection. “Kairos,” she says, “is when you feel like this moment, right now, is perfect.” (Interestingly, the Japanese have a similar expression: Ichi-go ichi-e, or “once in a lifetime.”) The Kairos Rule, then, basically says this: Not all moments are created equal, and the value of time depends on the situation. The Kairos Rule is helpful because of the world we live ina world that idolizes productivity, but the wrong kind of productivity. Toxic productivity Nobody really wants to live a productive life, writes Le Cunff in Tiny Experiments. We want to express ourselves, connect with others, and explore the world. Productivity is just a means to those ends; it should certainly not come at the expense of actually living life.” Le Cunff argues somewhere along the way society’s ideas of productivity went bad, to the point where we downplay the meaning of rest, reflection, and meaningful engagement. “Each project needs a clear outcome,” writes Anne-Laure. “Conversations become transactional. So-called unproductive moments of playful curiosity and quiet contemplation where our most profound insights can arise are eliminated.” Its this broken view that causes many today to measure productivity in the short term, versus looking at the big picturewhich is why we see so much stress-related sickness and burnout, and so many mental health issues. In contrast, the Rule of Kairos encourages you to make the most of those moments of playful curiosity and quiet contemplation. It empowers you to prioritize and maximize the minutes, hours, and days with friends and loved ones. So, how can you use the Rule of Kairos to reframe the way you think about time? I recommend using the following questions: How much time am I taking for the things that really matterlike spending time with loved ones? Or taking time to reflect, recover, and recharge? Do I really need to get everything on my task list done? If I do, will it come at the expense of more important things? What changes can I make to use my time more wisely, with the big picture in mind? Remember: Not everything you do will feel productive. And that’s OK. Instead of focusing on productivity, strive to see the unseen. See the kairos moments. If you do, you’ll start to realize something important: You’re not running behind at all. In fact, you’re right on time. By Justin Bariso This article originally appeared on Fast Company‘s sister publication, Inc. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy.
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