For many biotech companies, mergers and acquisitions have become a cornerstone in building a robust pipeline that can ensure positive growth for years to come. Although 2017 was slow for M&A activity, analysts have predicted 2018 could be a return to a spending frenzy.

Celgene (CELG) has been reeling as of late. It has brandished an image as having a strong R&D pipeline and an ability to acquire drug companies in late stage development before larger rivals get wind of them. After setbacks for ozanimod (multiple sclerosis) and morgensen (Chrohn’s disease), the company’s drug pipeline has come under scrutiny.