Shares of Elanco Animal Health Inc. rose 37% from its initial public offering price early in its market debut Thursday. Eli Lilly & Co. took public a minority stake in its animal-drug business after it began to explore options for the unit last year. Elanco is trading on the New York Stock Exchange under the symbol ELAN. Through the first six months of the year on a pro-forma basis, Elanco reported a net loss of $31.9 million on $1.51 billion in revenue. Elanco sold 62.9 million shares of stock for $24 each. (bowdeya.tweh@wsj.com; @BowKnowsBiz)

(END) Dow Jones Newswires

September 20, 2018 11:54 ET (15:54 GMT)

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