医药生物行业：2024ASH大会国内重点研究总结报告

Investment Rating - The report suggests a "Buy" rating for several domestic pharmaceutical companies, indicating a positive outlook for their innovative drug development and potential market performance [3][8]. Core Insights - The report highlights the increasing recognition of China's new drug research and development capabilities on the international stage, with multiple domestic companies showcasing promising data at the 2024 ASH conference [3][6]. - The report emphasizes the focus on innovative drugs and specialty pharmaceuticals, recommending attention to companies with data that exceed expectations or have the potential to become "best in class" [3][6]. Summary by Sections ASH Conference Overview - The 2024 ASH conference is set to take place from December 7 to 10 in San Diego, USA, with over 27,000 participants expected, including hematologists and healthcare professionals from more than 100 countries [2][21]. - Approximately 77 Chinese studies have been selected for oral presentations, showcasing the advancements in various drug types, including small molecules, monoclonal antibodies, bispecific antibodies, ADCs, and CAR-T therapies [2][21]. Key Research Summaries from Domestic Companies Leukemia - AML: Bai Li Tian Heng's BL-M11D1 (CD33 ADC) shows promising Phase I clinical data with an overall response rate (ORR) of 50% at the highest dose [33]. - China National Pharmaceutical Group: TQB3455, an IDH2 inhibitor, demonstrates a 94.1% overall response rate in patients with relapsed/refractory AML and MDS [35]. Other Hematological Malignancies - Multiple Myeloma (MM): - Ankai Biotech's BCMA/CD3 bispecific antibody shows good safety in heavily treated MM patients [3]. - Kexing Pharmaceutical's allogeneic CAR-T therapy shows promising durability of response [3]. - Myelodysplastic Syndromes (MDS): Ascentage Pharma's Lisaftoclax combined with Azacitidine achieves high remission rates without TLS [3]. Investment Recommendations - The report recommends focusing on innovative drug companies such as: - Innovative Drugs: Heng Rui Pharmaceutical, Han Sen Pharmaceutical, Bai Li Tian Heng-U, and others [3]. - Specialty Pharmaceuticals: Renfu Pharmaceutical, Enhua Pharmaceutical, Dongcheng Pharmaceutical, etc. [3].