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

3????????

4??????????

5?2023?????????

??,???????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??????????????????,???“?????????????????????,????????”(? ???????:???????????????????) ??????????????:???