??????????,??????????????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????????:?????150???

2????????????

3????598?998???

4???????????

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