Cramer's 'Mad Money' Recap: Why the Data Didn't Matter
But Cramer said he's not buying those rumors since bringing a new drug to market involves a ton of paperwork that takes at least six to 12 months to complete. So far, no paperwork for a would-be Acthar competitor has surfaced.
He said that Novartis (NVS) does sell a similar drug in Europe, but the economics don't work for the company to bring the drug to the U.S. since Questcor's 19 indications would involve 19 clinical trials to be performed before that drug would be on the same playing field as Acthar.
Cramer said these rumors of "questionable" origin are at odds with the Questcor, which just received orphan drug status for Acthar, giving it even more incentives for making the drug. The company also just reported terrific prescription data, which shows how much doctors love the drug.
So in the battle that has become Questcor, Cramer said he's siding with the bulls as this stock is not yet done going higher.
Lightning RoundHere's what Cramer had to say about callers' stocks during the "Lightning Round": Nvidia (NVDA): "People are worried about the quarter. I say don't buy." Baidu.com (BIDU): "I am not recommending any Chinese stocks right now." WW Grainger (GWW): "Any weakness, I want to buy this one. It's a terrific company." Nordic American Tanker (NAT): "The daily tanker rates are horrendous. I think you need to sit on the sidelines for now." Bank of America (BAC): "Bank of America is good to go. I think you can own it. " Consolidated Edison (ED): "I do like their dividend. I'd use $58 as my entry point."
Executive DecisionIn the "Executive Decision" segment, Cramer sat down with David Pyott, chairman, president and CEO of Allergan (AGN), which remains the fastest-growing medical company out there as it continues to find new uses for older products. Pyott said the consumer is "alive and well," something that has helped Allergan continue to grow at a rate of 9.5% a year when adjusting for currencies. He also noted that the second half of 2012 is poised to be even better than the first, thanks to a competitor for Botox being taken off the market.
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