In the third largest M&A deal of all time, Celgene has agreed to be acquired by Bristol-Myers Squibb (BMS) for approximately US$74 B after a bumpy two years which sent its stock price plummeting over 50% since its peak in September 2017. The deal will catapult the combined company into the ranks of top five pharmaceutical companies by sales when the deal is completed with forecast sales of US$40 B in 2019. It also offers the opportunity for BMS to diversify its revenue streams away from blockbuster immuno-oncology therapy, Opdivo® (nivolumab), with a potential six new launches expected in the next two years.