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

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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???

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???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?????????,??????????“????????????,???????????????”(????????? ????:????????) ??????????????????????:??? “?????92?”????

?? ???????|??,“?????”???????

????:1??????92?:????????????

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???????,“?????????”???

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