Cheap, Weak-Dollar Drug Stock Plays

Questioning this endless drug stock decline. These are the single biggest beneficiaries -- even more than tech and machinery -- of the translation of the weak dollar.

The stocks are simply not expensive at all. I know they lack the growth that they used to have, but when I look, say, at the scrips for a Vytorin from Schering-Plough (SGP - commentary - Cramer's Take)-Merck (MRK - commentary - Cramer's Take), they are almost back from before the scare! That's a great place to be, both of them.

I also think that we are at levels where you can get a bounce on the plus-5% yields of GlaxoSmithKline (GSK - commentary - Cramer's Take) and Bristol Myers (BMY - commentary - Cramer's Take). (I hate Pfizer (PFE - commentary - Cramer's Take) -- there's too much to recommend it.)

We are in a recession. This hated group will catch a bid here. I know I am talking my book in Schering-Plough, but it is important to note that numbers would go up huge if these trends in Vytorin are maintained.

Oh and don't forget that we have had a decent rally in biotech to the point where the disparity seems a little wacky. Lilly (LLY - commentary - Cramer's Take), Abbott (ABT - commentary - Cramer's Take) near 52-week lows. Nah, just too negative.

Just too darned cheap with too much weak-dollar exposure.

At the time of publication, Cramer was long Schering-Plough.

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