ADC专题二：5大ADC靶点（HER2、EGFR、Trop2、CLDN18.2、Nectin-4）全球研发动态

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies involved in ADCs. Core Insights - The report highlights the rapid commercialization and market expansion of ADCs, particularly focusing on the HER2-targeted drug, Trastuzumab Deruxtecan (DS-8201a), which achieved global sales of approximately $3 billion in 2023, marking a year-on-year growth of about 78% [4][6]. - The report discusses the ongoing clinical development of various ADCs targeting different cancer types, including HER2-positive breast cancer, gastric cancer, and others, indicating a broadening of treatment indications and potential market opportunities [6][26]. - The competitive landscape in the ADC market is evolving, with several domestic companies in China developing similar products, particularly in the HER2 ADC space, which may impact market dynamics [21][26]. Summary by Sections 1. HER2 ADC Insights - Trastuzumab Deruxtecan has been approved for multiple indications, with significant clinical trials ongoing to expand its use in various cancer types, including HR+ HER2 low breast cancer [6][11]. - The drug's annual treatment cost in China is approximately 50,000 yuan, with a recent price adjustment reducing it to about 39,000 yuan [4][6]. 2. Clinical Development Progress - The report outlines various clinical trials for Trastuzumab Deruxtecan, including studies for late-line treatments in breast cancer and ongoing trials for gastric cancer [7][26]. - The drug has shown promising results in clinical trials, with a median progression-free survival (mPFS) of 13.2 months compared to 8.1 months for standard chemotherapy [13][17]. 3. Competitive Landscape - The report notes that several domestic ADC products are in development, with companies like Hengrui Medicine leading in the HER2 ADC space, potentially impacting the market share of established products [21][26]. - The first domestic HER2 ADC, SHR-A1811, is expected to file for NDA between 2024 and 2025, indicating a competitive entry into the market [21][26].