一个分子，两条赛道！国产唯二BTK抑制剂得其一，20亿美元BD交易撬动自免全球市场

Core Viewpoint - The article discusses the evolution and commercialization of BTK inhibitors in the treatment of B-cell malignancies, highlighting the shift from traditional chemotherapy to targeted therapies, particularly focusing on the success of domestic second-generation BTK inhibitors and their manufacturers [3][4][5]. Group 1: Industry Overview - Before the emergence of BTK inhibitors, chemotherapy was the standard treatment for B-cell malignancies, but it had significant side effects and limited efficacy in relapsed/refractory lymphoma [3]. - The approval of ibrutinib in 2013 marked the beginning of a new era in targeted therapy for hematological cancers, addressing the limitations of chemotherapy [3]. - The BTK inhibitor market has seen rapid development, with major pharmaceutical companies introducing second-generation products like acalabrutinib and zanubrutinib, which offer higher selectivity and improved safety [4]. Group 2: Company Focus - Among the various BTK inhibitors, zanubrutinib has gained significant recognition in the A-share market, contributing to the substantial revenue and market capitalization of BeiGene (688235.SH, 6160.HK) [4]. - The article shifts focus to another domestic second-generation BTK inhibitor and its original research manufacturer, indicating ongoing innovation in this therapeutic area [5].