Eli Lilly partner urges investors to look beyond biotech turmoil

Look at the future prospects, not the losses, says the chief executive of a newly listed Chinese biotech company that’s developing anti-cancer drugs with Indianapolis-based pharmaceutical giant Eli Lilly and Co.

Innovent Biologics Inc.’s Michael Yu said investors need to look beyond the turmoil that has sent Chinese health-care stocks down as much as 35 percent since the summer. It’s been a rocky ride for the industry that’s been hit by a scandal and broader market plunge, making it even tougher for companies that have just listed with little revenue and a history of losses.