日本人在免疫领域获得诺贝尔奖的是1987年的利根川进、2018年的本庶佑，坂口志文是第三 人。在他们背后，还有许多研究者一直在世界前沿取得诺贝尔奖级的成果…… 研究体内入侵病原体的免疫机制，被称为日本的"家传技艺"。不仅是2025年诺贝尔生理学或 医学奖得主坂口志文，2018年获奖的京都大学特聘教授本庶佑也是免疫研究领域的第一人。 虽然日本在诺贝尔奖上曾一度沉寂，但研究者队伍依然雄厚，不断产出引领世界的优秀成 果。 坂口志文在母校京都大学学习时，并非专攻免疫学。他曾中途退学进入爱知县癌症中心磨练 研究技能，并在1980年代崭露头角。他发现了一个现象，去除特定免疫细胞反而会激活免疫 反应，进而引发自身免疫疾病。 当时，坂口志文并未被专业人士重视。然而，他依然按照自己的信念坚持不懈地进行研究， 陆续发表了成为调节性T细胞证据的重要成果，并获得了世界认可。 大阪大学特任教授坂口志文在确定获得诺贝尔生理学或医学奖后举行记者会（10月6日，大阪府吹田市） 后来，他的研究还揭示了调节性T细胞与自身免疫疾病和癌症的关系。致力于开发被期待 为"第五种癌症治疗"的光免疫疗法的乐天医疗（Rakuten Medical）公司，在2 ...

Investment Rating - The report provides an investment rating for various pharmaceutical companies, with several companies rated as "Overweight" (OW), "Neutral" (N), and "Underweight" (U W) [5][10][11]. Core Insights - The pharmaceutical sector is projected to experience varying growth rates, with specific companies showing strong potential for earnings growth and valuation improvements over the next few years [5][10]. - The report highlights the importance of evaluating companies based on key financial metrics such as P/E ratio, EV/EBITDA, and growth rates in EBITDA and EPS [5][11]. Company Summaries - **AbbVie (ABBV)**: Rated OW with a target price of 200, showing a P/E of 15.2x for FY25E and an EBITDA CAGR of 8.9% from FY26-29 [5]. - **AstraZeneca (AZN)**: Rated OW with a target price of 14,000, P/E of 15.5x for FY25E, and an EBITDA CAGR of 6.7% from FY26-29 [5]. - **Eli Lilly (LLY)**: Rated OW with a target price of 1,100, P/E of 36.1x for FY25E, and an impressive EBITDA CAGR of 16.1% from FY26-29 [5]. - **Gilead Sciences (GILD)**: Rated OW with a target price of 130, P/E of 13.5x for FY25E, and an EBITDA CAGR of 5.7% from FY26-29 [5]. - **Johnson & Johnson (JNJ)**: Rated N with a target price of 185, P/E of 14.2x for FY25E, and an EBITDA CAGR of 5.9% from FY26-29 [5]. - **Regeneron Pharmaceuticals (REGN)**: Rated OW with a target price of 800, P/E of 14.6x for FY25E, and an EBITDA CAGR of 14.3% from FY26-29 [5]. - **Pfizer Inc (PFE)**: Rated N with a target price of 30, P/E of 8.0x for FY25E, and an EBITDA CAGR of -2.7% from FY26-29 [5]. Valuation Metrics - The report includes detailed valuation metrics for each company, such as market capitalization, P/E ratios, P/B ratios, and EV/EBITDA ratios, providing a comprehensive overview of the financial health and market positioning of the companies [5][10][11]. - The average P/E ratio across the companies analyzed is approximately 14.0x for FY25E, with a weighted average of 18.3x [5][10]. Growth Projections - The report projects significant growth in the pharmaceutical sector, with various companies expected to achieve substantial increases in earnings per share (EPS) and EBITDA over the next several years [5][10]. - Specific CAGR estimates for EBITDA and EPS growth are provided, indicating the expected performance trajectory for key players in the industry [5][10].