NEW YORK (TheStreet) -- Shares of Regeneron (REGN) - Get Report are up almost 10% in Wednesday's trading session, and the stock was the focus on CNBC's "Cramer's Mad Dash" segment.   

The company is having a "breakthrough" with its cholesterol drug. Its other drug, Eylea, was just approved by the Food and Drug Administration following positive Phase III results, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio

It's cholesterol treatment is the world's first alternative to statin drugs, which many people are allergic too, he said. 

Biotechnology stocks continue to move higher, while large-cap pharmaceutical stocks remain stagnant amid slower growth. 

Gilead Sciences (GILD) - Get Report is the "cheapest drug company I follow," Cramer concluded, before adding that Regeneron's cholesterol drug could become a household product in the future.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.