Cramer said the unit is worth about $4.5 billion. Shareholders should be pleased. The company has an enterprise value of $28 billion -- with quite a bit of debt -- and a market cap of only $12 billion.
A lot of hedge funds are also involved in the stock, he said, and it will be interesting to see if they take profits on Monday's news or stay invested in the company.
Turning to Regeneron Pharmaceuticals
(REGN - Get Report), Citigroup upgraded the stock to buy from hold. But Cramer questions the timing of the call, saying the analyst is a little late to the party.
Cramer called Regeneron's Leonard Schleifer "one of my favorite CEOs."
- - Written by Bret Kenwell in Petoskey, Mich.