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

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