?????,??????????????????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??????100?

3????????

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