Elanco is now a standalone company after raising $1.5 billion in its stock market debut.
Greenfield, IN-based Elanco (NYSE: ELAN) sold 62.9 million shares at $24 apiece, which topped the $20 to $23 range it had initially targeted. Investors showed their appetite for the animal health company, driving its stock price up more than 39 percent after its shares began trading Thursday.
The IPO for Greenfield, IN-based Elanco completes the spinoff of the company from pharmaceuticals giant Eli Lilly (NYSE: LLY), its parent since 1954. Last year, Lilly announced a strategic review to determine whether to keep its animal… Read more »
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