?,???????????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???????????,“???”???????

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

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

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

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

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

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

??????????????????

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

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

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

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

???:“??????????,??,???”

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

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

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

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

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

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

??“???”,??????,????????????????????

???????????????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??????????

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

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

?????

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???CAR-T???????????,“???”???????

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

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

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

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

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

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