Positive Cancer Trug Tests
In a second "Executive Decision" segment, Cramer sat down with Daniel Junius, president and CEO of ImmunoGen (IMGN), whose stock is up 63% since Cramer first highlighted the company in November 2009.
ImmunoGen recently received positive results for phase 2 testing of its T-DM1 targeted breast cancer treatment. Junius said that even in phase 1 testing he saw compelling results for the drug and he's very excited to now have phase two and even phase three studies now in progress.
Junius did admit however, the the Federal Food and Drug Administration is in a tough spot when approving new treatments. He said that T-DM1 was before the FDA a year ago and the agency declined to consider it based on study methodology. Junius said ImmunoGen and its partners hope to have the drug before the FDA again in 2012, with subsequent studies completing in 2014.When asked whether T-DM1 is too expensive or could be used for other cancers, Junius said that he's not worried about the drug's cost, as it replaces an already expensive round of chemotherapy for patients. As for other indications for the drug, he said that there is some interest in possibly using T-DM1 for gastric cancers as well, but no commitments have been made. Junius ended by saying that some studies are currently open to new patients. Cramer continued his recommendation of ImmunoGen, saying the company continues to make great progress in the fight against cancer.
Lightning RoundCramer was bullish on Henry Schein (HSIC), Vodafone Group (VOD), DuPont (DD), Carbo Ceramics (CRR), Core Labs (CLB) and Exelon (EXC). He was bearish on Arch Coal (ACI), World Wrestling Entertainment (WWE) and Citigroup (C).
Diversified PortfolioIn his "No Huddle Offense" segment, Cramer once again pitched diversification for investors' portfolios. He said investors need a mix of recession stocks, best of breed names and high yielders in order to weather this market. Cramer said a portfolio that included Procter & Gamble (PG) and Johnson & Johnson, along with Eaton (ETN) and DuPont, and AT&T (T) and Kinder Morgan Energy Partners (KMP) would give investors just what they're looking for.
Closing CommentsCramer said he's not worried about reports that Apple (AAPL), a stock which he owns for his charitable trust, Action Alerts PLUS, is canceling some iPad orders. Cramer said investors shouldn't rely on a single analyst and he's not changing his opinion on Apple. --Written by Scott Rutt in Washington, D.C. To contact the writer of this article, click here: Scott Rutt. To follow the writer on Twitter, go to http://twitter.com/scottrutt. To submit a news tip, send an email to: email@example.com.
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