RealMoney Radio: Toothsome Weight Watchers

Many of you have been on a diet since the beginning of the year, Cramer said on his "RealMoney" radio show, and if the going has been slow, you can still make money on the diet business.

The one company that has had the most consistent, successful track record for weight loss is the one that forces people to change the way they eat and take care of themselves, he said, referring to Weight Watchers(WTW Quote).

With the stock down a $1 on a Lehman downgrade, Cramer said he would sink his teeth into it.

Cramer said that the company, which was spun off by Heinz(HNZ Quote), is well-run company and will be around as long as people need to lose weight.

In the world of diet drugs, he suggested taking a look at GlaxoSmithKline(GSK Quote), a company that he said also has good management.

What it does best is take prescription drugs that have come off patent and "make great hay with them," once they are eligible for over-the-counter sales, Cramer said, which is what they did with Nicorette.

Glaxo is waiting for approval to sell the diet drug Xenical, and Cramer believes that it will happen later in the year. And even though the drug's side effects include flatulence and diarrhea, he said it's still likely to be a big seller.

People took phen-fen, and that produced heart attacks, he said, adding that some people will take just about any pill to lose weight.

But even though NutriSystem(NSI Quote) is a much-loved stock, he doesn't recommend it.

It was up 17 points the day before, he said, and he doesn't want investors to dive into this soaring stock at these levels.

In other consumer-centered businesses, he said to be wary of Amazon.com(AMZN Quote), even though it just reported a big $10 billion revenue.