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NEW YORK (TheStreet) -- It feels like the free fall in the transports may be over, Jim Cramer told his Mad Money viewers Thursday, and that's a harbinger of good news for the rest of the markets.

The simple fact is that nothing can be sold until its shipped, which is why the transportation stocks are such a great leading indicator for overall economic activity. Without the rails, trucks, freight forwarders and the airlines, the world wouldn't have much of an economy at all.

So after weeks of steep declines, the pace seems to slowing, and that made Cramer take notice. He said that FedEx (FDX) - Get FedEx Corporation Reportboosting its dividend was the first good sign, as it shows that international business must be finally bottoming.

Then there are the rails, which took it on the chin when oil prices collapsed. But now that oil is back on the rise, production should once again be picking up, and if it doesn't, low prices would still be great for lumber, chemicals and other items that ship by rail.

The airlines remain the worst of the bunch, Cramer admitted, but even they will eventually be poised to recover now that they've suffered steep declines.

Add them all together and you've got the beginning of a bottom, Cramer concluded, and that'll be welcome news for the rest of the markets.

Executive Decision: Vivek Ramaswamy

For his "Executive Decision" segment, Cramer sat down with Vivek Ramaswamy, president and CEO of Axovant Sciences (AXON) - Get Axovant Gene Therapies Ltd. Report, the biotech company whose IPO rallied over 99% in today's session on high hopes for the company's Alzheimer's treatments.

Ramaswamy said that while no one still fully understands how dementia in Alzheimer's patients really works, Axovant's drug, RVT-101, which it acquired from GlaxoSmithKline (GSK) - Get GlaxoSmithKline plc Sponsored ADR Report, is a unique drug that has shown amazing promise so far in Phase II testing and could potentially help millions of patients.

Ramaswamy continued by said that the drug, which is a once-a-day pill, has proven to be well tolerated and has improved both cognition and function in participants in the Phase II study. He expects to begin a six-month Phase III study later in 2015.

Cramer said that many investors have been burned by false promises of Alzheimer's breakthroughs in the past, but Axovant does have an intriguing candidate that viewers should look into.

Focus on AmerisourceBergen

Continuing with his week-long focus on health care, Cramer set his sights on AmerisourceBergen (ABC) - Get AmerisourceBergen Corporation Report, a wholesale drug distributor with shares that are up 22% so far in 2015 and have doubled over the past two years.

Cramer said while McKesson (MCK) - Get McKesson Corporation (MCK) Report, which he featured Wednesday, remains his favorite in this space, Amerisource comes in a close second because the company has partnerships with both Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report and Express Scripts (ESRX) , two stocks Cramer owns for his charitable trust, Action Alerts PLUS.

Walgreens owns 5% of Amerisource, with the option to buy up to 23% of the company. Cramer said he thinks Walgreens could consider gobbling all of the company as consolidation in the health care group runs rampant.

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In addition to its core drug distribution business, Amerisource also has a lucrative specialty pharmacy division as well as consulting, veterinary medication and even a courier service. The company has a 50% market share for oncology drugs and is gaining ground in other areas as well.

Amerisource increased revenue by 14.8% in its most recent quarter to $32.7 billion and has a $1 billion share repurchase program. Cramer called the company a steal at current levels.

Executive Decision: Dr. Stanley Crooke

In his second "Executive Decision" segment, Cramer checked in with Dr. Stanley Crooke, founder, chairman and CEO of Isis Pharmaceuticals (ISIS) , a stock that's up more than 106% in the last year.

Crooke provided an update to his company's Phase II study for spinal muscular atrophy, or SMA, type one, the most severe form of the disease. He explained the disease, which affects newborns, causes a disconnection between muscles and the nerves that control them. Thus, babies afflicted with SMA typically don't live more than a few months.

However, with Isis' treatment, babies were rolling over, sitting up and grasping objects, a marked improvement.

Crooke took a cautious tone, however, saying that while the company is extremely encouraged by the results, they "haven't proven anything yet." He would only say the Phase III study will prove if the drug is working or not, although he remains optimistic.

Lightning Round

In the Lightning Round, Cramer was bullish on Medtronic (MDT) - Get Medtronic Plc (MDT) Report, Energy Transfer Partners (ETP) , ConocoPhillips (COP) - Get ConocoPhillips Report, Navigator Holdings (NVGS) - Get Navigator Holdings Ltd. Report, GoPro (GPRO) - Get GoPro, Inc. Class A Report, Ambarella (AMBA) - Get Ambarella, Inc. Report, Moody's (MCO) - Get Moody's Corporation (MCO) Report and MSCI (MSCI) - Get MSCI Inc. Class A Report.

Cramer was bearish on DCP Midstream Partners (DPM) and Tata Motors (TTM) - Get Tata Motors Limited Sponsored ADR Report.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the soaring biotech sector, moves which he said are cause for short-term concern but aren't necessarily crazy.

Take Regeneron (REGN) - Get Regeneron Pharmaceuticals, Inc. Report, which has seen its stock slide over the past week on the heels of an seemingly negative FDA panel review. Cramer said the bears are far too shortsighted on Regeneron because its cholesterol drug was ultimately approved by a 13-3 vote and offers hope for patients who cannot take the current medications.

Then there's Gilead Sciences (GILD) - Get Gilead Sciences, Inc. (GILD) Report, a stock that did nothing for months but then roared 20% over the past three months and now has lots of cash on hand for another transformative acquisition.

Company after company in the biotech group hold remarkable promise, Cramer concluded, but that doesn't mean they can't get overheated in the short term, which it appears they have after today's red-hot Axovant IPO.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had a position in ESRX, ETP and WBA.