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

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

???“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????,?????,????????,???????

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