2024年8月，66岁的王阿姨因左侧持续腰痛到上海交通大学医学院附属瑞金医院泌尿外科就诊。增强CT 显示：左肾一枚13cm的巨大肿瘤，已经与周围的肌肉和大血管紧密粘连，所幸未见远处转移。瑞金医 院泌尿外科医生团队为王阿姨做了根治性左肾切除+区域淋巴结清扫，肉眼所见肿瘤被完整切除，手术 取得成功，术后一周王阿姨顺利出院了。 术后第四周，王阿姨按医嘱开始标准辅助方案——"阿昔替尼联合PD-1抑制剂"，希望把可能潜伏的癌细 胞"扼杀在摇篮"。然而，术后第一次复查的腹部CT让所有人倒吸一口凉气：原肾窝位置赫然出现一枚 10cm的新肿块，六周后最大径更是飙到12cm——几乎追平术前的肿瘤大小。 "手术不是切干净了吗？怎么又长这么快？"面对患者的疑问，医生决定把手术石蜡标本送去做基因测 序。十天后，答案揭晓：王阿姨患有罕见的BHD综合征，而这次"光速复活"的肿块，正是BHD综合征 相关肾癌同时发生了肉瘤样变，这极其罕见。 一、BHD综合征：会"隐身"的三联症 1、遗传规律 发生率：大约1/3的BHD综合征患者一生将出现肾肿瘤，平均发病年龄50岁。 病理特点：肿瘤常呈双侧、多灶，生长缓慢，最常见类型为混合性嗜酸/嫌色细胞癌 ...

Investment Rating - The report does not explicitly state an investment rating for the pharmaceutical and biotechnology industry, but it indicates a positive outlook on the innovation drug sector, particularly regarding the international expansion of domestic innovative drugs [3][4]. Core Insights - The report highlights the continuous rise in the enthusiasm for innovative drugs going overseas, with significant collaborations such as the $9 billion partnership between Bristol-Myers Squibb and BioNTech for the development of a PD-L1/VEGF dual antibody [3][4]. - It notes that the domestic innovative drug pipeline is becoming increasingly competitive on a global scale, with a long-term positive outlook for the internationalization of innovative drugs [3][4]. - The report also discusses the recent peak of COVID-19 cases in China, with a positivity rate of 23.8% reported at the end of May, indicating a need for continued monitoring [3][4]. Market Weekly Review - The pharmaceutical and biotechnology sector rose by 1.13% from June 3 to June 6, underperforming compared to the Wind All A index, which increased by 1.61% [9][10]. - Among sub-sectors, raw materials and blood products both saw a rise of 2.89%, while in vitro diagnostics increased by 2% [10]. - Notable stock performances included Yiming Pharmaceutical with a 33.1% increase, while *ST Longjin experienced a significant decline of 36.3% [12]. Industry News and Key Company Announcements - Significant events include the presentation of clinical data for IBI363 by Innovent Biologics at the ASCO conference, showing promising efficacy in treating advanced non-small cell lung cancer [12][13]. - Stone Pharmaceutical received approval for its adenosylcobalamin capsules, expanding its product line in the blood and nervous system treatment areas [13]. - CanSino Biologics announced the approval of a new indication for its PD-1/CTLA-4 inhibitor, filling a gap in the treatment of cervical cancer in China [13]. - The report also mentions various other approvals and collaborations among companies, indicating a vibrant and active industry landscape [13][14].

Investment Rating - The report does not explicitly state an investment rating for the pharmaceutical and biotechnology industry, but it indicates a positive outlook on the global competitiveness of domestic innovative drugs and the trend of innovative drugs going abroad [3][4]. Core Viewpoints - The innovative drug sector is experiencing a surge in overseas collaboration, highlighted by the partnership between Bristol-Myers Squibb and BioNTech to jointly develop a PD-L1/VEGF dual antibody with a total package worth $9 billion [3][4]. - The report notes that the recent ASCO conference showcased significant advancements in dual antibodies and ADCs, indicating a differentiated layout in early clinical stages for domestic innovative drugs [3][4]. - The report mentions a peak in the current COVID-19 wave, with a positivity rate of 23.8% reported at the end of May, which is higher than the entire year of 2024, although it has started to decline slightly [3][4]. Weekly Market Review - The pharmaceutical and biotechnology sector rose by 1.13% from June 3 to June 6, underperforming the Wind All A index, which increased by 1.61% [9][10]. - Among sub-sectors, raw materials and blood products both increased by 2.89%, while in vitro diagnostics rose by 2% [9][10]. - Notable stock performances included Yiming Pharmaceutical with a rise of 33.1%, Wanbangde at 32.6%, and Anglikang at 30.3%, while *ST Longjin fell by 36.3%, Huason Pharmaceutical by 12.4%, and Maipu Medical by 9.3% [12][10]. Industry News and Key Company Announcements - On June 4, Innovent Biologics reported promising Phase I clinical data for IBI363 in treating advanced non-small cell lung cancer at the ASCO annual meeting [12][13]. - On June 6, CSPC announced that its adenosylcobalamin capsules received drug registration approval from the National Medical Products Administration [13][14]. - On June 5, CanSino Biologics announced the approval of a new indication for its PD-1/CTLA-4 inhibitor in first-line treatment for cervical cancer [13][14]. - On June 2, Bristol-Myers Squibb and BioNTech announced a collaboration to develop the PD-L1/VEGF dual antibody BNT327, with a significant financial commitment involved [13][14].