Beyond its MS pipeline, Cramer said Biogen also has other drugs in the works that are not factored into its share price, including those to treat lymphoma and hemophilia. Given the company's superb growth rate and its cheap share price, Cramer said he's still very bullish on Biogen.
Executive Decision: Manny Chirico
In the "Executive Decision" segment, Cramer once again sat down with Manny Chirico, CEO of PVH Corp (PVH), a stock that's given up all of its gains for the year as investors have voiced concerns about the company's Warnaco acquisition announced last October.
Chirico explained that unlike PVH's acquisition of the Tommy Hilfiger brand, the Warnaco acquisition is more complicated and on a much larger, global scale. As such, Chirico said that 2013 will be a transition year for PVH as it makes investments in the now-unified Calvin Klein brand so that 2014 and beyond will be much stronger.
Chirico also noted that jeans tend to sell in cycles and have been under pressure for the past two years. That makes the Warnaco acquisition happening at the perfect time, as things will only improve from here.When asked about sales in Europe, Chirico said that overall comps are up 5% to 6%, which weakness in Italy and Spain being offset by strength in other countries like France and the U.K. In the U.S., he said, sales were strong in January and February, but stalled in March as continued cold weather has made it hard to jump-start much of its spring apparel. "It's hard to sell shorts when it's 20 degrees outside," Chirico explained. Finally, when asked about sales at the embattled JC Penney (JCP), Chirico said that PVH's shirt and tie business has been under pressure as sales have been declining overall at Penney, but his company's sportswear business has seen a lot of strength and he feels JC Penney management is starting to take the necessary steps to turn things around. Cramer said that while PVH may be sluggish in the first half of 2013, he's a believer in the company for late-2013 and beyond.
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