Scott Olson/Getty Images Biotech mergers and acquisitions are off to a hot start in 2018. On Monday, French drugmaker Sanofi spent $11.6 billion to buy US hemophilia firm Bioverativ, and Celgene spent $9 billion on cancer specialist Juno Therapeutics. Investment banks stand to make as much as $185 million in fees for advising on the deals. Two major biotech acquisitions dropped on Monday: French drugmaker Sanofi spent $11.6 billion to buy US hemophilia firm Bioverativ, and Celgene spent $9 billion on cancer specialist Juno Therapeutics. The more than $20 billion in pharma mergers and acquisitions means a windfall of as much as $185 million in fees for four investment banks, with JPMorgan raking in the most from the deals.