??,??????????CAR-T(??T??????)??????????????????“?”???????????????????

CAR-T??,??????????????:????????????????,??“????”?????“???????,??????????”??????????????????????????,??????????????????,????

???“???????”,???????

????????????????? 11 ??,??,99.9????CAR-T??,???????????CAR-T????????????1????,??????????????????????????CAR-T????,????,???????120??????????????????CAR-T??????????60??????????????????????

8???????????,???,?????????????????CAR-T????????????6?????????????????????????CAR-T????????“???????????”?????,????,?????????????????????“??????”??????????,?????????????????????????????????????“????”???“?????????????”??????????,???????????

?????????,??:??“???”????????“????????”???,????????????CAR-T???????????????“????????????”??????????????????,???????????

?????????????????,??“?????”?????????,???????????????????????,CAR-T????,????????????????

??????????

????????70%???60%??,????????????“????”???41.3%?

????????,????????,??“?????????”????????,????????????????,????????????“????”,?????????,?????????????

?????CAR-T????????,“????????????”???

??????????®(????????????????)?????????????????,?????2021?????????????,??,????????,???????????????????

?????????“?????????????”??????????????,??8????????????????????,?????????,????????/??,??????????????,???????4??CAR-T???????????

?????,???????,?????????29??,?30?????,?????????????????????99.9?????/???????~120????????/????CAR-T??????,???

????????4???????????????,????????????????,????????????,??,???????????????,???????????CAR-T?????????????????????,??????????CAR-T????????????????

???????,CAR-T?,???“???????????”,????????????????“???????????????”????????????,?????????????????CAR-T??????????????????????,??????

?????????????,???,??????

?????????«????»???,??????????,????????“???????”?????????,???“???????????”?????,?????????????????????????????????????????????

?????????,CAR-T?????????,??????:

??,CAR-T????????????????????100???????,??????????????????????“??”?????????????????2023??????1.9???(19.4%)???????????1.7????????????????(25.3%),?????????????????????????,?“??????”???????????,???????????“???????30??”???????????,??“?????????????????????”?

????????,???????????,?,?????????????????????????,????????????????????????????????CAR-T?????,??????????????,?????,?????????????,??????????“??”???????

?????

???????,???????CAR-T??????????,?“???,???”???????,??????????????“??”?????????

??,?????????????????????????????????,?????????????CAR-T?????????????????,????

??????????1???????????,????????????“???”,???????????,???60??????????????????????????????????????

??????????2024?????,????,?????,???????????????????,???????????????????????????,??????

?:“????????????????????????,??,???”

???????,????,??????,??????????????“??”,?,???,?????,??,???,??????,????????????????????

???????????,?????????“1+3+N”???????????????????,??“N”???,???????????????????,???“N”???,???

???????,???????

???????????“?????????????”????????,??????,?????

??????,???????????????????????????,????,???????,???????

“???????,?300???????,???????????????????CAR-T??????,CAR-T?????????????????????????????,?,??????,?????‘??????????’????????,??????????,??,???????????,???,??????,??????;???????????,???????????????????,????,?‘????’?”??

?????????????????“?????????”?????????,?????????????????????????,????????????

???????????????,????,?????,??????????,????????????????????????????????????,????????????????????50???????,????????????,????,?????????????????

????????????,?????????????,??????????????,?????????????????????????,????

?????,??????,??????????????????????,????????????????“???????????”,???,??????????????????,?????????

??,????????????????????,????????????????????,???????????????

???“??”,??????????,???????????

????????????100??????????????CAR-T?????????,??????????????????,???,??????????????????????????????,??????????CAR-T?????????26?????,????????????????,????4??,???????????????????????????

????????????????“????????????????”,??,??,?????

“???100?????,??CAR-T??????????,??,????????????,??????????????????????,????????????”??????????????,???????????,????????;??????;??,????????????,???????

CAR-T?????????????????????

??CAR-T?????????????,?????????????:CAR-T??????????????????????CAR-T???????????

????????????????????CAR-T??????????,??????????????,??,????????CAR-T???,????????????????????????????????????????,???

??,?????????“??????????????”?????????????????????,??????????????????,???????????????,????“???????????????”??????????,????,??????????????CAR-T???????????,???????????,?????????????????????????

?,CAR-T??????????????????,??DRG/DIP???,????????????????????“?????????”?,??????????????“???????????????,??????,??????”???

??,“?????”??,??“???????????”??????????????????,???CAR-T?????????????????????????

“??????????CAR-T??50%~70%?????”????CAR-T???

?,??????????CAR-T??????????????,???????????????,??????,???????????????????CAR-T??4.3????,?????????????CAR-T???????????????????????????????

????,?????????????,CAR-T???????????????,??????,????????????CAR-T????????????????????

??????????????CAR-T?????,???????PD-1??,CAR-T?,???????,?,??????????,???????,?????,???

???????????????2024?????????????????????3??1???????CAR-T??????????(??????????)???????,???????? CAR-T??11 ???????????,????6?????????

?“2025-2030???????????(CGT)????????????????????????????”????????????????????????,????????,?????????????CAR-T????????,2023?20%,???184????????????????,????????????????????????168?????????

???,???,????????????CAR-T??????????“???????”????????

??,2032????CAR-T??885.2???????????,????????????????“????????,?????????????????????”(???????? ?????:???????) ????????:??? “???????”????

?? ???????|??,“?????”???????

????:1????????:??????????

2?????98???

3???????

4?????????100

5???????

??,??????????CAR-T(??T??????)??????????????????“?”???????????????????

CAR-T??,??????????????:????????????????,??“????”?????“???????,??????????”??????????????????????????,??????????????????,????

???“???????”,???????

????????????????? 11 ??,??,99.9????CAR-T??,???????????CAR-T????????????1????,??????????????????????????CAR-T????,????,???????120??????????????????CAR-T??????????60??????????????????????

8???????????,???,?????????????????CAR-T????????????6?????????????????????????CAR-T????????“???????????”?????,????,?????????????????????“??????”??????????,?????????????????????????????????????“????”???“?????????????”??????????,???????????

?????????,??:??“???”????????“????????”???,????????????CAR-T???????????????“????????????”??????????????????,???????????

?????????????????,??“?????”?????????,???????????????????????,CAR-T????,????????????????

??????????

????????70%???60%??,????????????“????”???41.3%?

????????,????????,??“?????????”????????,????????????????,????????????“????”,?????????,?????????????

?????CAR-T????????,“????????????”???

??????????®(????????????????)?????????????????,?????2021?????????????,??,????????,???????????????????

?????????“?????????????”??????????????,??8????????????????????,?????????,????????/??,??????????????,???????4??CAR-T???????????

?????,???????,?????????29??,?30?????,?????????????????????99.9?????/???????~120????????/????CAR-T??????,???

????????4???????????????,????????????????,????????????,??,???????????????,???????????CAR-T?????????????????????,??????????CAR-T????????????????

???????,CAR-T?,???“???????????”,????????????????“???????????????”????????????,?????????????????CAR-T??????????????????????,??????

?????????????,???,??????

?????????«????»???,??????????,????????“???????”?????????,???“???????????”?????,?????????????????????????????????????????????

?????????,CAR-T?????????,??????:

??,CAR-T????????????????????100???????,??????????????????????“??”?????????????????2023??????1.9???(19.4%)???????????1.7????????????????(25.3%),?????????????????????????,?“??????”???????????,???????????“???????30??”???????????,??“?????????????????????”?

????????,???????????,?,?????????????????????????,????????????????????????????????CAR-T?????,??????????????,?????,?????????????,??????????“??”???????

?????

???????,???????CAR-T??????????,?“???,???”???????,??????????????“??”?????????

??,?????????????????????????????????,?????????????CAR-T?????????????????,????

??????????1???????????,????????????“???”,???????????,???60??????????????????????????????????????

??????????2024?????,????,?????,???????????????????,???????????????????????????,??????

?:“????????????????????????,??,???”

???????,????,??????,??????????????“??”,?,???,?????,??,???,??????,????????????????????

???????????,?????????“1+3+N”???????????????????,??“N”???,???????????????????,???“N”???,???

???????,???????

???????????“?????????????”????????,??????,?????

??????,???????????????????????????,????,???????,???????

“???????,?300???????,???????????????????CAR-T??????,CAR-T?????????????????????????????,?,??????,?????‘??????????’????????,??????????,??,???????????,???,??????,??????;???????????,???????????????????,????,?‘????’?”??

?????????????????“?????????”?????????,?????????????????????????,????????????

???????????????,????,?????,??????????,????????????????????????????????????,????????????????????50???????,????????????,????,?????????????????

????????????,?????????????,??????????????,?????????????????????????,????

?????,??????,??????????????????????,????????????????“???????????”,???,??????????????????,?????????

??,????????????????????,????????????????????,???????????????

???“??”,??????????,???????????

????????????100??????????????CAR-T?????????,??????????????????,???,??????????????????????????????,??????????CAR-T?????????26?????,????????????????,????4??,???????????????????????????

????????????????“????????????????”,??,??,?????

“???100?????,??CAR-T??????????,??,????????????,??????????????????????,????????????”??????????????,???????????,????????;??????;??,????????????,???????

CAR-T?????????????????????

??CAR-T?????????????,?????????????:CAR-T??????????????????????CAR-T???????????

????????????????????CAR-T??????????,??????????????,??,????????CAR-T???,????????????????????????????????????????,???

??,?????????“??????????????”?????????????????????,??????????????????,???????????????,????“???????????????”??????????,????,??????????????CAR-T???????????,???????????,?????????????????????????

?,CAR-T??????????????????,??DRG/DIP???,????????????????????“?????????”?,??????????????“???????????????,??????,??????”???

??,“?????”??,??“???????????”??????????????????,???CAR-T?????????????????????????

“??????????CAR-T??50%~70%?????”????CAR-T???

?,??????????CAR-T??????????????,???????????????,??????,???????????????????CAR-T??4.3????,?????????????CAR-T???????????????????????????????

????,?????????????,CAR-T???????????????,??????,????????????CAR-T????????????????????

??????????????CAR-T?????,???????PD-1??,CAR-T?,???????,?,??????????,???????,?????,???

???????????????2024?????????????????????3??1???????CAR-T??????????(??????????)???????,???????? CAR-T??11 ???????????,????6?????????

?“2025-2030???????????(CGT)????????????????????????????”????????????????????????,????????,?????????????CAR-T????????,2023?20%,???184????????????????,????????????????????????168?????????

???,???,????????????CAR-T??????????“???????”????????

??,2032????CAR-T??885.2???????????,????????????????“????????,?????????????????????”(???????? ?????:???????) ????????:???