Elanco Animal Health shares soar in post-IPO debut

Elanco Animal Health Inc. shares soared more than 35% Thursday in their trading debut, after the company priced the stock above its price range. Elanco, a spinoff from Eli Lilly & Co. issued 62.9 million shares at $24 each, compared with a price range of $20 to $23, to raise $1.51 billion. Goldman Sachs. J.P. Morgan and Morgan Stanley were book-running managers on the deal. Shares are trading on the New York Stock Exchange under the ticker "ELAN."

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