Cramer's 'Mad Money' Recap: Dec. 3

Click here for an archive of Jim Cramer's Mad Money recaps.

---

On the heels of Johnson & Johnson (JNJ Quote) acquiring two companies Thursday, Jim Cramer put on his matchmaker's hat and told the viewers of his "Mad Money" TV show that he's found five other deals that also make sense.

Cramer said now that the acquisition of breast implant maker Mentor (MNT Quote) and biosurgical supplier Omrix BioPharma are off the market, he's looking for the next big deal.

He said there are opportunities galore for forward-thinking companies with enough guts to make such a bold acquisition. He praised Johnson & Johnson, a stock which he owns for his charitable trust, Action Alerts PLUS, for being one of those companies.

With the markets having ravaged stock prices, Cramer said every company with extra cash should be looking for to buy other companies on the cheap. The first of those companies, he said, should be drug giant Pfizer (PFE Quote).

Cramer said Pfizer should consider buying Botox maker Allergan (AGN Quote). He said Allergan, which up until today competed with Mentor, now competes with the behemoth Johnson & Johnson, and that means it needs to partner with a bigger player to stay competitive.

For Pfizer, Cramer said an Allergan acquisition would be just what the doctor ordered to reinvigorate its stalled stock price that now trades at just 13 times its earnings. Given the multiple Mentor received today, Cramer said Allergan could fetch as much as $54 a share.

Cramer: RIM Has Lost It

Biotech Plum

Investors looking for the proverbial needle in the haystack should look no further than Cramer's biotech favorite Celgene (CELG Quote), another stock which he owns for his charitable trust Action Alerts PLUS. He said there aren't many stocks out there with reliable 30% growth, but Celgene is one of them.