So says this Credit Suisse report. Not sure what he means by "smaller deals" (will $5 billion really be a small deal?), but BMS, Lilly, Merck and Pfizer want to do "smaller deals".
https://www.investors.com/news/technology/big-pharma-pharmaceutical-companies-mergers/?refcode=TechReport-12262018-3-DA-2:12:2018:4Q:NewsLetter:Email:TechReport-12262018:na:na:na:na:26:12:3:DA:2